UBS increased its price target for Halliburton by $1 to $40, reflecting over 21% upside from current levels while maintaining a neutral rating.
UBS lifted its price target on Halliburton (HAL) to $40 from $39, citing potential upside of more than 21% from the current price. The firm maintained its neutral rating on the stock despite the adjustment.
Halliburton, a major energy services provider, recently secured a deal with Iraq to develop the Bin Umar and Sindbad oil fields. Production at Bin Umar is expected to reach 150,000 barrels per day within five years, with associated gas output targeted at 300 million cubic feet daily.
The revised target aligns with broader analyst expectations, which see an average upside of 36.72% for the stock. Halliburton remains a key player in global energy services, though UBS noted alternative investments may offer lower risk.