Halliburton price target raised to $48 from $45 at RBC Capital

RBC Capital analyst Keith Mackey raised the firm’s price target on Halliburton to $48 from $45 and keeps an Outperform rating on the shares after its Q4 earnings beat. The stock has underperformed its large cap OFS peers, but in light of the company’s strong outlook and dividend hike, the underperformance presents an opportunity to accumulate shares, the analyst tells investors in a research note. RBC Capital further cites Halliburton having the strongest leverage to upcycles in North American drilling and completions activity among its large-cap peers.