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Will Halliburton (HAL) Stock React to KeyBanc Upgrade?

NEW YORK (TheStreet) -- Halliburton Co. (HAL - Get Report) stock rating was upgraded to "overweight" from "sector weight" at KeyBanc on Tuesday morning. The firm maintained its $40 price target on the oil field service provider.

The company's $34.6 billion acquisition of Baker Hughes (BHI) is expected to be completed early this year, despite the antitrust issues that have pushed back the closing date, KeyBanc Capital Markets said in an analyst note this morning.

The oil service industry is expected to recover sooner in North America, with WTI crude prices reaching $50 a barrel by the fourth quarter of 2016.

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"For long-term investors who are willing to see beyond the current severe weakness in oil prices and oilfield activity, we recommend exposure to the U.S. drilling and completion services market," analysts noted.

Houston-based Halliburton operates in several countries, including the U.S., Canada...


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