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Barron's: Halliburton could surge 40% as shale drilling picks up in 2014

  • Halliburton (HAL) is poised for a rapid rise in profits as oil companies ramp up spending to tap new shale finds, which could send shares more than 40% higher within a year, Barron's Jack Hough writes.
  • Recent U.S. shale finds promise to spread demand for drilling services more broadly; E&P spending should rise 6% this year, which bodes particularly well for companies like HAL, which has heavy exposure to onshore production services.
  • HAL's EPS should rise at a compounded rate of 34%/year through 2015, Goldman Sachs says; such fast growth could catch stock investors by surprise, and HAL shares trade at just 10.1x the 2015 estimate.
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