Halliburton price target raised to $27 from $25 at Piper Sandler

Piper Sandler raised the firm’s price target on Halliburton (HAL) to $27 from $25 and keeps a Neutral rating on the shares. The firm notes shares advanced over 10%, handily outperforming the OIH at 1%, driven by operational execution, delivering an 8% beat resulting in upward earnings revisions and its announced collaboration with VoltaGrid to develop International data center solutions. While the company’s recent cost-cutting efforts drove 1/3rd to half of the earnings beat, the remainder was due to better-than-feared white space in U.S. Land markets, a testament to Halliburton’s differentiated frac offering and alignment with the most technical-minded customer base, Piper adds.