Merrill Lynch Thinks Halliburton’s Stock is Going to Recover


In a report released today, Chase Mulvehill from Merrill Lynch maintained a Buy rating on Halliburton (HAL), with a price target of $31. The company’s shares closed on Friday at $21.75, close to its 52-week low of $20.98.

According to TipRanks.com, Mulvehill is a 3-star analyst with an average return of 4.6% and a 50.0% success rate. Mulvehill covers the Basic Materials sector, focusing on stocks such as Diamond Offshore Drilling, US Silica Holdings, and Core Laboratories.

Currently, the analyst consensus on Halliburton is a Strong Buy with an average price target of $36.10, which is a 66.0% upside from current levels. In a report issued on July 9, Barclays also maintained a Buy rating on the stock with a $33 price target.

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The company has a one-year high of $43.05 and a one-year low of $20.98. Currently, Halliburton has an average volume of 12.87M.

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Halliburton Co. engages in the provision of services and products to the energy industry related to the exploration, development, and production of oil and natural gas. It operates through the Completion and Production, and Drilling and Evaluation segments.

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