In a recent update, BMO Capital raised its price target on Halliburton (NYSE:HAL) to $39 from $36, yet kept its Market Perform rating intact. At present, Halliburton shares trade around $33.72, marginally below the 52-week high of $33.92, and InvestingPro's proprietary Fair Value model classifies the stock as fairly valued.
This upward adjustment to the target price follows what BMO Capital characterized as "strong fourth-quarter 2025 results" from the global oilfield services company. The investment firm projects that Halliburton will post revenues of approximately $21.8 billion in 2026, which would represent a 2% decline compared to the previous year. This forecast closely mirrors recent performance, as the company reported $22.18 billion in revenue over the last twelve months, supported by a "GOOD" rating on its overall financial health.
BMO Capital expects Halliburton's revenue growth to rebound in 2027, anticipating a 3% increase to reach $22.5 billion. Their 2026 EBITDA estimation stands at $3.992 billion—a figure management indicated falls within expected ranges—rising to $4.443 billion in 2027. By comparison, Halliburton's EBITDA for the trailing twelve months was $4.12 billion. The company also upholds a strong track record of financial discipline, maintaining dividend payments for 55 consecutive years.
Regarding earnings per share (EPS), BMO Capital forecasted $2.22 for 2026, slightly above both their prior estimate of $2.20 and the consensus of $2.20. For 2027, the firm increased its EPS forecast to $2.70 from $2.59, closely aligning with the consensus estimate of $2.69.
Despite raising the price target, BMO Capital’s decision to hold a Market Perform rating signals a neutral stance on Halliburton’s relative near-term market prospects.
Additional analyst perspectives reflect varied interpretations of Halliburton's outlook. Following the company surpassing both EPS and revenue expectations in its Q4 2025 results—delivering EPS of $0.69 versus $0.55 anticipated and revenues of $5.7 billion compared to $5.41 billion forecasted—UBS reiterated a Neutral rating with a $32 price target. Similarly, Piper Sandler maintained a Neutral stance with a $30 target, referencing the company’s 2026 guidance.
Conversely, RBC Capital raised their price target from $36 to $38 and retained an Outperform recommendation, citing robust performance in Halliburton’s Completion and Production segment. Evercore ISI also increased their price target to $36 from $35, maintaining an "In Line" rating, attributing this adjustment to better-than-expected fourth-quarter results.
These divergent analyst views highlight Halliburton’s solid financial execution while emphasizing differing assessments of potential growth and risk factors inherent in the oilfield services sector.
This article incorporates AI-assisted drafting with editorial oversight to ensure accuracy.