Halliburton price target raised to $40 from $35 at JPMorgan

JPMorgan raised the firm’s price target on Halliburton (HAL) to $40 from $35 and keeps an Overweight rating on the shares. Halliburton will be less impacted than peers in Q1 from the Middle East conflict, the analyst tells investors in a research note. The firm says Halliburton’s Q1 guidance is “conservative,” particularly for Saudi Arabia and North America. It sees the company benefitting from the tight North America frac market and higher oil prices.