5 Stocks Gaining Value on Analysts’ Upgrades

2. Halliburton Company (NYSE:HAL)

Number of Hedge Fund Holders: 48

Wolfe Research upgraded Halliburton Company (NYSE:HAL) from “Underperform” to “Outperform,”     sending its shares to a nearly one-year high on Thursday, January 12.

Analyst Sam Margolin sees the oil field service giant boosting revenue from major projects this year. Margolin has a price target of $51 per share for Halliburton Company (NYSE:HAL), compared to the stock’s current trading price of around $42.

Meanwhile,  investment advisor Aristotle Atlantic Partners also talked about Halliburton Company (NYSE:HAL) in its third-quarter 2022 investor letter, stating:

“Halliburton Company (NYSE:HAL) provides energy, engineering and construction services and is a manufacturer of products for the energy industry. The company offers services and products and integrated solutions to customers in the exploration, development, and production of oil and natural gas. Halliburton operates two business segments: Completion & Production and Drilling & Evaluation.

Our conviction in longer-term operating leverage is supported by the focus on improving cost structures. Upstream oil and gas spending over the longer term can benefit Exploration & Production (E&P) firms from sustained high oil and gas prices and a renewed urgency in global energy security. We believe the rightsizing of the company’s cost structure and forward focus on margins at the same time as E&Ps respond to new investment signals will drive both topline and bottom-line growth.”