UBS raised the firm’s price target on Halliburton (HAL) to $23 from $21 and keeps a Neutral rating on the shares heading into the Q3 results. The firm expects Q3 margins to contract another 40 basis points quarter over quarter in Q3 as pricing pressure continues to hurt Halliburton, the analyst tells investors in a research note. UBS remains on the sidelines, although it sees the potential for U.S. production to roll, which would likely spur activity and provide pricing support.
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