Halliburton price target lowered to $44 from $47 at Citi

Citi analyst Scott Gruber lowered the firm’s price target on Halliburton to $44 from $47 and keeps a Buy rating on the shares. While the economic outlook has "become more clouded," Citi’s view toward positioning in oil field services remains the same. The international investment upcycle "should not be derailed" at $70 Brent, and thus the recent pullback in the group presents an opportunity, the analyst tells investors in a research note. The firm reduced estimates for Halliburton to reflect its base case.