Park Ha Biological Technology stock rises on upcoming ticker symbol change
Investing.com - HSBC upgraded Halliburton (NYSE:HAL) from Hold to Buy and raised its price target to $30.00 from $23.00, citing better-than-expected margin guidance. According to InvestingPro data, Halliburton maintains a GOOD financial health score and currently trades at an EV/EBITDA multiple of 5.83x, with strong liquidity metrics showing liquid assets exceeding short-term obligations.
The upgrade follows Halliburton’s fourth-quarter Completion & Production (C&P) margin guidance that exceeded HSBC’s previous estimates, prompting the firm to increase its 2025 revenue forecast by $348 million or 2%.
HSBC also raised its 2025 C&P margin estimate by 74 basis points to 16.1%, while adjusting its free cash flow projections, reducing the 2025 estimate by $255 million but increasing the 2026 estimate by $636 million after Halliburton guided for a 30% reduction in 2026 capital expenditure to $1 billion.
The new price target of $30.00 implies approximately 18.9% upside potential and represents 9.6x HSBC’s 2027 EV/EBITDA estimates, compared to Halliburton’s current trading multiple of 7.0x Bloomberg consensus two-year forward EV/EBITDA.
HSBC believes a higher multiple is warranted by Halliburton’s growing international business mix and its ownership stake in VoltaGrid, with the firm’s discounted cash flow analysis now based on an exit multiple of 8.4x, up from 6.4x previously. Based on InvestingPro’s comprehensive analysis, the stock appears slightly undervalued at current levels. For deeper insights into Halliburton’s valuation and growth prospects, access the detailed Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, Halliburton reported its third-quarter 2025 earnings, which surpassed expectations with an earnings per share (EPS) of $0.58, compared to the forecasted $0.50. The company’s revenue also exceeded projections, reaching $5.6 billion against the anticipated $5.39 billion. Following these strong results, RBC Capital upgraded Halliburton’s stock rating from Sector Perform to Outperform, raising its price target to $31.00 from $26.00. The upgrade is based on significant downward resets in estimates over the past year, supporting a more optimistic outlook. Additionally, TD Cowen increased its price target for Halliburton from $35.00 to $38.00, maintaining a Buy rating. This adjustment follows Halliburton’s earnings beat and positive guidance for the fourth quarter. These developments reflect a favorable sentiment among analysts regarding Halliburton’s recent performance and future prospects.
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