Analysts positive on Halliburton after 2027 outlook
HAL•Halliburton forecast mid-single-digit revenue growth in 2027, citing expected demand from efforts to restore energy production and rebuild inventories in the war-hit Middle East. Jefferies, TD Cowen and RBC raised their price targets, with all three maintaining positive ratings.
1. Analysts assess outlook
Jefferies and TD Cowen raised their price targets to $48 from $47, while RBC lifted its target to $46 from $45. Jefferies called Halliburton’s 2027 framework achievable, based on flat North American revenue, sustained Middle East activity and no meaningful pricing uplift. TD Cowen said the outlook does not require North America to deliver growth.
2. Fourth-quarter view
RBC said Halliburton was “saved by the guide,” with its fourth-quarter core profit forecast implying 7% sequential growth. The brokerage said the 2027 outlook eased concerns about the softer quarter, while noting that Halliburton’s international revenue mix is underweight relative to peers and could be a growth headwind if North America remains flat. Halliburton shares closed up 1.9% on Tuesday after beating third-quarter profit and revenue estimates.
