UBS Lifts Price Target on Halliburton (HAL), Reaffirms Neutral Rating

With an average upside potential of 36.72% according to Wall Street analysts, Halliburton Company (NYSE:HAL) is included among the 10 Most Promising Energy Stocks to Buy Now.

UBS Lifts Price Target on Halliburton (HAL), Reaffirms Neutral Rating

Halliburton Company (NYSE:HAL) is one of the largest providers of products and services to the energy industry in the world.

On July 2, UBS slightly upped its price estimate on Halliburton Company (NYSE:HAL) from $39 to $40, while reiterating a ‘Neutral’ rating on the shares. The target boost reflects an upside of over 21% from the current price level.

In another notable development, it was reported on July 6 that Halliburton has signed an agreement with the Iraqi government to develop the Bin Umar and Sindbad oil fields in Basra governorate in the country’s south.

The output at Bin Umar is expected to rise to 150,000 barrels of oil per day (bopd) over the next five years, with associated gas production targeted at 300 million standard cubic feet per day (MMscf/d). Similarly, the crude production at Sindbad is targeted to surge by 80,000 to 100,000 bopd over the same period, with associated gas production targeted at 240 to 260 MMscf/d.

While we acknowledge the risk and potential of HAL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than HAL and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 10 Energy Stocks with Highest Dividends and 12 Best Utility Stocks to Buy Now According to Hedge Funds

Disclosure: None. Follow Insider Monkey on Google News.

1281292 - 11759070 - 1