Morgan Stanley raised 2005 and 2006 earnings estimates to $1.70 per share and $1.90, from $1.58 and $1.85, respectively. It raised the target price on Halliburton to $50 from $40. Morgan Stanley said Halliburton will most likely divest its KBR and BRS units by year-end. "Although minor transactions, we expect substantial sentiment improvement and a full multiple on the dominant Energy Service Group," Morgan Stanley said. The research firm said the oil-services sector looks strong with positive pricing announcements and estimate revisions for 2005 and 2006.
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High Rating of Halliburton
International investment bank Morgan Stanley reiterated an "overweight" rating on Halliburton
International investment bank Morgan Stanley reiterated an "overweight" rating on Halliburton, which raised earnings estimates and the target price on the oil-services company, according to Forbes.
"We believe the beaten-up sentiment about Halliburton is about to return to old highs," the research firm said.
Morgan Stanley raised 2005 and 2006 earnings estimates to $1.70 per share and $1.90, from $1.58 and $1.85, respectively. It raised the target price on Halliburton to $50 from $40. Morgan Stanley said Halliburton will most likely divest its KBR and BRS units by year-end. "Although minor transactions, we expect substantial sentiment improvement and a full multiple on the dominant Energy Service Group," Morgan Stanley said. The research firm said the oil-services sector looks strong with positive pricing announcements and estimate revisions for 2005 and 2006.
Morgan Stanley raised 2005 and 2006 earnings estimates to $1.70 per share and $1.90, from $1.58 and $1.85, respectively. It raised the target price on Halliburton to $50 from $40. Morgan Stanley said Halliburton will most likely divest its KBR and BRS units by year-end. "Although minor transactions, we expect substantial sentiment improvement and a full multiple on the dominant Energy Service Group," Morgan Stanley said. The research firm said the oil-services sector looks strong with positive pricing announcements and estimate revisions for 2005 and 2006.
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