Halliburton assumed with a Buy at UBS

UBS assumed coverage of Halliburton with a Buy rating and $49 price target. The analyst is positive on the company’s balance sheet and return of capital profiles, unique assets, long-term visibility, commodity mix, catalysts driving rate of change, and valuation. The stock’s valuation gap to peers should narrow as the company grows International revenues in line with peers as it did in 2022, the firm tells investors in a research note.