Halliburton price target lowered to $45 from $50 at Citi

Citi lowered the firm’s price target on Halliburton to $45 from $50 and keeps a Buy rating on the shares. The analyst reduced Q2 estimates to reflect a slightly softer domestic frac market. However, Halliburton is delivering on strategic imperatives and continues to trade at a depressed multiple, the analyst tells investors in a research note.