Halliburton (HAL) Stock Earnings Estimates Raised at Nomura

Halliburton (HAL) stock fiscal 2017 earnings estimates were increased at Nomura this morning as the firm says the company has a good outlook for recovery.
By Natalie Walters ,

NEW YORK (TheStreet) -- Halliburton's (HAL) - Get Report  fiscal 2017 earnings estimates were raised to $1.33 from $1.27 at Nomura this morning. 

Additionally, the company's price target was upped to $54 from $53 with a "buy" rating.

"HAL remains our favorite way to play a recovery in U.S. E&P spending," the firm said in the analyst note. 

The next few months could be a "bumpy road" for the E&P industry as investors gauge the current supply and demand of oil on a global level, the firm warned. Companies in the sector will be on tight budgets as they too "assess the sustainability of oil prices," Nomura said. 

But the short-term "choppy" period could benefit Halliburton, as "a slower activity ramp in the second half should enable the company to clip market share at a faster rate," the firm wrote. 

Shares of the Houston-based company are down 1.25% to $43.28 in early-morning trading. 

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:

We rate HALLIBURTON CO as a Hold with a ratings score of C-. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. Among the primary strengths of the company is its solid stock price performance. At the same time, however, we also find weaknesses including deteriorating net income, disappointing return on equity and weak operating cash flow.

You can view the full analysis from the report here: HAL

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