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Upgrade Alert for Halliburton (HAL)

By Shiri Gupta

Halliburton (NYSE:HAL) was upgraded from Market Perform to Outperform at FBR Capital today. The stock closed yesterday at $41.17 on volume of 10.8 million shares, below average daily volume of 11.5 million.

Halliburton Company provides energy services and engineering and construction services, as well as manufactures products for the energy industry. The Company offers services and products and integrated solutions to customers in the exploration, development, and production of oil and natural gas.

Over the past year, Halliburton has traded in a range of $27.64 to $50.20 and closed yesterday at $41.17, 49% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.9%.

There is potential upside of 12.9% for shares of Halliburton based on a current price of $41.17 and an average consensus analyst price target of $46.48. The stock should find initial support at its 50-day moving average (MA) of $36.84 and further support at its 200-day MA of $36.57.

SmarTrend is monitoring the recent change of momentum in Halliburton. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Halliburton in search of a potential trend change.

Keywords: analyst upgrades/downgrades Halliburton

Ticker(s): HAL