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Halliburton (HAL) Stock Price Target Raised at Deutsche Bank

NEW YORK (TheStreet) -- Halliburton (HAL) stock price target was raised to $50 from $49 at Deutsche Bank this morning. The firm maintained a "buy" rating on the shares.

That increase comes as the Houston-based oil field services company is "well positioned to see a leveraged response in the early stages of the recovery," according to the analyst note. Halliburton's significant share gains and cost cuts, $1 billion by year end, make it well-positioned to hit the firm's first fiscal 2018 earnings estimate for the company at $3.20.

Additionally, Halliburton released better than expected fiscal 2016 second quarter results yesterday. The company...