An analyst from Jefferies has increased the price target for Halliburton (NYSE: HAL) to $47. Halliburton is a major oilfield services company with a market capitalization of approximately $33.71 billion. It provides services and products to the energy industry for the exploration, development, and production of oil and natural gas.
The new price target was set when Halliburton was trading at $40.36 per share. This updated target suggests a potential increase of about 16.45% from that price. The stock has shown strong momentum, with its price over the last 52 weeks ranging from a low of $19.22 to a high of $41.18.
This positive outlook is supported by the company's recent financial performance. As highlighted by 24/7 Wall St., Halliburton reported stronger-than-expected first-quarter 2026 earnings. Its adjusted earnings per share (EPS) were $0.55, which was over 10% higher than the estimated $0.50. Revenue also beat expectations, coming in at $5.4 billion.
The company's financial health shows significant improvement. Net income increased by nearly 126% year-over-year to $461 million, while operating income grew by over 57% to $679 million. Free cash flow, the cash left after paying for operations and investments, also rose by 64% to $123 million, indicating strong cash generation.
A key driver for this growth was strong international business. As noted by 24/7 Wall St., revenue from Latin America surged by 22%, driven by increased activity. The company's Drilling & Evaluation segment generated $2.39 billion in revenue, while its Completion & Production segment brought in $3.02 billion, with both divisions outperforming forecasts.
