Halliburton (HAL – Research Report), the Energy sector company, was revisited by a Wall Street analyst today. Analyst Sean Meakim from J.P. Morgan reiterated a Buy rating on the stock and has a $35.00 price target.
Sean Meakim has given his Buy rating due to a combination of factors that suggest Halliburton is well-positioned for future growth despite current challenges. The company has adopted a conservative approach to its 2025 guidance, and although there are some headwinds, such as weather conditions in the Rockies and activity declines in Mexico, Halliburton is expected to perform within its guidance range. The company’s strategy to maximize value from North American operations by leveraging its unique technologies is anticipated to support robust margins even in a declining activity environment.
Moreover, Halliburton’s strategic technology advancements, such as the Zeus platform and Octiv Auto Frac, are expected to enhance efficiency and well productivity. The company’s focus on capital discipline is likely to generate solid free cash flow, which should support increasing cash returns to shareholders through 2025. Additionally, Halliburton’s leading position in the North American pressure pumping market and its underappreciated international presence are seen as key drivers for potential net pricing gains and valuation growth, supporting the Buy rating with a price target of $35 by December 2025.