Will This Price Target Increase Help Halliburton (HAL) Stock Today?

NEW YORK (TheStreet) -- Credit Suisse raised its price target for Halliburton (HAL) to $95 from $79 Tuesday, reiterating its "outperform" rating for the oil company.

The analyst firm also raised its EPS estimates for the company through 2016. Halliburton's record activity should continue to grow according to analysts James Wicklund, Jonathan Sisto, and Brittany Commins.

"The global oil service business is operating at record levels of activity, revenues for the industry are forecasted to grow by at least 5%-7% for the foreseeable future," the analysts wrote. "HAL is expected to grow ~50% faster than the nominal growth in rig count due to integration of technologies and capabilities, excellent execution, and significant efficiency programs that are driven by a ROIC-focused culture. After the call, we continue to have a positive outlook on HAL because of the record activity that is expected to continue to grow."

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Separately, 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."

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