In a recent assessment, Wells Fargo analyst Roger Read revised the price target for Halliburton (HAL, Financial), lowering it from $29 to $27. Despite the adjustment, the firm maintains an Overweight rating on the stock.
The decision to adjust the price target reflects a mixed outlook in the industry. While there is some uncertainty surrounding North American exploration and production (E&P) activities, the analyst highlights a more positive international and offshore environment. This balance is expected to uphold Halliburton's margin expectations, cash flow from operations, and free cash flow projections.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 25 analysts, the average target price for Halliburton Co (HAL, Financial) is $31.77 with a high estimate of $50.00 and a low estimate of $23.00. The average target implies an upside of 53.47% from the current price of $20.70. More detailed estimate data can be found on the Halliburton Co (HAL) Forecast page.
Based on the consensus recommendation from 28 brokerage firms, Halliburton Co's (HAL, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Halliburton Co (HAL, Financial) in one year is $38.34, suggesting a upside of 85.22% from the current price of $20.7. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Halliburton Co (HAL) Summary page.
