Goldman Sachs has reaffirmed its Buy rating on Halliburton (HAL), with analyst Neil Mehta setting a price target of $43.00. The stock closed yesterday at $33.59, indicating significant potential upside according to the analyst's outlook.
Mehta, a 5-star analyst on TipRanks, has an average return of 12.0% and a success rate of 63.17%. He focuses on the Energy sector, covering stocks like ConocoPhillips, Marathon Petroleum, and Murphy Oil. The broader analyst consensus for Halliburton is also a Strong Buy, with an average price target of $43.00, suggesting a 28.01% upside from current levels.
Stifel Nicolaus has also reiterated a Buy rating on Halliburton, matching Goldman Sachs' $43.00 price target. This alignment among analysts underscores a positive sentiment toward the stock.
Halliburton's latest earnings report for the quarter ending September 30 showed quarterly revenue of $5.7 billion and a net profit of $417 million. This represents a substantial improvement compared to last year's revenue of $5.6 billion and a net profit of just $18 million.