There’s a lot to be optimistic about in the Conglomerates sector as 2 analysts just weighed in on Halliburton (HAL) and Magna International (MGA) with bullish sentiments.
Halliburton (HAL)
In a report issued on October 19, Kurt Hallead from RBC Capital maintained a Buy rating on Halliburton, with a price target of $17.00. The company’s shares closed last Tuesday at $12.74.
According to TipRanks.com, Hallead has 0 stars on 0-5 stars ranking scale with an average return of -19.4% and a 24.3% success rate. Hallead covers the Industrial Goods sector, focusing on stocks such as Independence Contract Drilling, Diamond Offshore Drilling, and Oceaneering International.
Halliburton has an analyst consensus of Hold, with a price target consensus of $14.97, implying a 20.3% upside from current levels. In a report released yesterday, Susquehanna also maintained a Buy rating on the stock with a $15.00 price target.
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Magna International (MGA)
RBC Capital analyst Steve Arthur maintained a Buy rating on Magna International yesterday and set a price target of $65.00. The company’s shares closed last Tuesday at $54.40, close to its 52-week high of $57.09.
Arthur has an average return of 20.0% when recommending Magna International.
According to TipRanks.com, Arthur is ranked #872 out of 7009 analysts.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Magna International with a $57.50 average price target.
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