Wednesday, July 7, 2010

Barclays Capital Upgrades Halliburton (NYSE:HAL)

Analysts at Barclays Capital upgraded Halliburton Company (NYSE:HAL) today, increasing its price target and rating on the oil giant.

The rating on Halliburton was raised from “Equal Weight” to “Overweight," saying factors like growth in pumping utilization and better pricing lends to the change.

For the price target, that was raised from $28 to $35 for Halliburton, an increase of 36 percent from last week's close, which came in at $25.74.

Halliburton was up Tuesday to $26.45, a $0.71 gain, or 2.76 percent, as of 3:47 PM EDT.

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