Wells Fargo (NYSE:WFC) increased its valuation and earnings outlook on Halliburton (NYSE:HAL) today, while maintaining their "Outperform" on them.
"We are increasing our 3Q10 estimate of recurring net income to $0.62 per share from $0.54 per share due to higher North American profit guidance offered by the company at an investor presentation. We are increasing our 2010 and 2011 estimates to $2.05 and $2.69, respectively, from $1.91 and $2.45," said Wells.
A price target range was increased from $35-37 to $37-39.
This seems to imply they don't think there will be huge liabilities for Halliburton resulting from the BP oil spill.
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