NEW YORK (TheStreet) -- Halliburton (HAL) shares are climbing in pre-market trading on Friday, up 1.1% to $69.27, after having coverage initiated with a "buy" rating and $79 price target by analysts at Drexel Hamilton on Friday.
The price target represents a 15% upside from the company's previous closing price.
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TheStreet Ratings team rates HALLIBURTON CO as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate HALLIBURTON CO (HAL) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth, solid stock price performance, good cash flow from operations and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company shows low profit margins."
Highlights from the analysis by TheStreet Ratings Team goes as follows: