Halliburton reinstated at J.P. Morgan, citing pressure pumping cost advantage

Halliburton (HAL +0.2%) is reinstated with an Overweight rating and $57 target price at J.P. Morgan, which believes HAL is exhibiting its pressure pumping cost advantage with a fleet that is 85% on long-term contracts and 75% working on 24-hour operations.

With 2014 earnings revisions likely to the upside going forward, the firm expects multiple expansion with more investors looking toward considerable growth in 2014 EPS amid conservative assumptions.

HAL also is resumed at BofA Merrill Lynch, with a Buy rating and $62 target.

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs