Halliburton price target lowered to $49 from $58 at Barclays

Barclays analyst J. David Anderson lowered the firm’s price target on Halliburton to $49 from $58 and keeps an Overweight rating on the shares. The company provided the North America reset investors hoped for by lowering second half of 2023 upstream spending expectations, while also demonstrating the resiliency of its business and pricing discipline as margins remain strong, the analyst tells investors in a research note. The firm cut estimates to reflect the “restrained” U.S. land.