TD Cowen analyst Marc Bianchi maintained a Buy rating on Halliburton (HAL – Research Report) today and set a price target of $32.00.
Marc Bianchi has given his Buy rating due to a combination of factors that suggest potential for future growth despite some current challenges. Halliburton’s international outlook remains relatively stable, supported by visibility on contracted work, even though there are some conservative assumptions about declines in the second half of the year. The company has experienced a revenue beat in the first quarter, although this was offset by margin misses, which were attributed to specific operational factors such as a slower start in U.S. frac services and geographic mix differences.
Looking ahead, Halliburton anticipates improvements in its Drilling and Evaluation (D&E) margins by the second half of 2025, driven by the absence of mobilization costs and strong visibility on contracted work. Despite a less clear outlook for North American operations, Halliburton expects to maintain solid free cash flow and plans to return significant cash to shareholders through share repurchases. These factors, combined with a slight adjustment in the price target, reflect a cautious yet optimistic view of Halliburton’s potential, leading to the Buy rating.
In another report released on April 14, Susquehanna also maintained a Buy rating on the stock with a $32.00 price target.
Based on the recent corporate insider activity of 69 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of HAL in relation to earlier this year.