Evercore ISI upgraded Halliburton (HAL) to Outperform from In Line with a price target of $42, up from $36. The oil market’s “previous focus on efficiency is giving way to resilience,” argues the analyst, who sees U.S. land services entering a new cycle with increased focus on supply chain resilience amid geopolitical shifts. Halliburton and Helmerich & Payne (HP) are well-positioned for modest growth in U.S. onshore activity and the anticipated rise in rig count and capex “signals a positive turn for these services,” the analyst added.
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