Halliburton, the Energy sector company, was revisited by a Wall Street analyst today. Analyst Daniel Kutz from Morgan Stanley maintained a Buy rating on the stock and has a $26.00 price target.
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Daniel Kutz’s rating is based on Halliburton’s performance and strategic positioning amidst market challenges. Despite reporting second-quarter earnings that were largely in line with expectations, Halliburton faces pricing pressures in North America and a projected decline in international markets. However, the company has shown resilience in offshore deepwater operations, which have been a challenge for many of its peers.
Moreover, Halliburton’s advancements in digital and production solutions, along with its strategic focus on e-frac technology, position it well for future growth. The company’s commitment to maintaining a strong free cash flow and its plans to manage capital expenditures efficiently further support the Buy rating. These factors, combined with Halliburton’s ability to navigate current market weaknesses, underpin Kutz’s positive outlook on the stock.
According to TipRanks, Kutz is an analyst with an average return of -1.8% and a 49.49% success rate. Kutz covers the Energy sector, focusing on stocks such as Baker Hughes Company, Halliburton, and Schlumberger.
In another report released on July 27, Jefferies also maintained a Buy rating on the stock with a $30.00 price target.