Tariffs introduced on the so-called “Liberation Day” and OPEC+ production hikes have "pulled the rug out" from under Halliburton Co HAL, according to Piper Sandler.
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The Halliburton Analyst: Analyst Derek Podhaizer downgraded the rating from Overweight to Neutral, while establishing a price target of $25.
The Halliburton Thesis: The company and Weatherford International plc WFRD are facing "diverging rate-of-change stories," Podhaizer said in the downgrade note.
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While Halliburton has been warning about challenges in the second half of the year, Weatherford International has tightened its 2025 guidance range, with the worst of the issues in Mexico now behind it, he commented.
Halliburton is focusing on right-sizing in a maturing market, which has put downward pressure on estimates, the analyst stated. Expectations for Weatherford International have already been refined during the year when it was first negatively impacted by Mexico, he added.
The analyst also upgraded Weatherford International from Neutral to Overweight, while raising the price target from $62 to $73.
Price Action: Shares of Halliburton had risen by 1.16% to $22.73 at the time of publication on Monday.
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