RBC Capital analyst Keith Mackey upgraded Halliburton (HAL) to Outperform from Sector Perform with a price target of $31, up from $26. The firm views the company’s Q3 report as “strong” and says estimates have reset significantly lower in the past year. Halliburton’s “returns-focused management” is driving improving capital efficiency and the company’s role in potential international power generation projects could provide catalysts in the quarters ahead, the analyst tells investors in a research note.
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