Halliburton price target raised to $40 from $35 at Goldman Sachs

Goldman Sachs analyst Neil Mehta raised the firm’s price target on Halliburton (HAL) to $40 from $35 and keeps a Buy rating on the shares. The stock presents a unique combination of balanced geographic exposure to traditional oilfield services with improving rate of change for international activity, and Halliburton is an attractive stock in this environment due to continued strong execution, margin expansion, and improving free cash flow conversion, along with an eventual degree of upside from long-term Venezuela opportunities, the analyst tells investors in a research note.