JPMorgan lowered the firm’s price target on Halliburton (HAL) to $33 from $35 and keeps an Overweight rating on the shares as part of a Q4 earnings preview. The firm reduced estimates to incorporate the deceleration of global upstream spending patterns in both Halliburton’s North America and international markets. In Q4, the analyst expects the company’s results to trend at the lower end of guidance given a more pronounced seasonal slowdown in North America activity amid widespread industry efficiency gains and well construction headwinds in Mexico and Saudi Arabia.
Stay Ahead of the Market:
- Discover outperforming stocks and invest smarter with Top Smart Score Stocks
- Filter, analyze, and streamline your search for investment opportunities using Tipranks' Stock Screener
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on HAL:
- Halliburton downgraded to Neutral from Buy at Griffin Securities
- Micron downgraded, Block upgraded: Wall Street’s top analyst calls
- Piper assumes Oilfield Services coverage with 4 buys, 4 neutrals
- Halliburton initiated with an Overweight at Piper Sandler
- Halliburton downgraded to Equal Weight from Overweight at Barclays