Halliburton's Target, Estimates Boosted at Goldman Sachs (HAL)

Halliburton’s Target, Estimates Boosted at Goldman Sachs (HAL)

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Oilfield services giant Halliburton Company (HAL) on Thursday saw its price target and earnings estimates boosted by analysts at Goldman Sachs.

The firm said it now expects HAL shares to reach $42, which implies a 20% upside to the stock’s Thursday closing price of $34.88. Goldman also raised its earnings estimates for the company, noting that higher sales are driving margin growth.

The analyst also maintained its “Buy” rating.

Halliburton shares fell 24 cents, or -0.7%, in premarket trading Thursday.

The Bottom Line
Shares of Halliburton (HAL) have a 1.03% dividend yield, based on last night’s closing stock price of $34.88. The stock has technical support in the $30 price area. If the shares can firm up, we see overhead resistance around the $36-$38 price levels.

Halliburton Company (HAL) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.