Street View: Halliburton wins Street backing despite conflict costs

Bullish

22/04/2026 11:15

**  U.S. oilfield services provider Halliburton HAL.N beat first-quarter profit estimates on Tuesday

** However, co warned that Iran war and effective closure of Strait of Hormuz could cut current-quarter EPS by 7 to 9 cents, as rerouting has increased logistics costs and prolonged conflict has raised raw-material prices

** As of last close, shares of co up 35% YTD

HAL APPEARS WELL-POSITIONED ON UNDERLYING OUTLOOK STRENGTH

** TD Cowen ("buy"; PT: $48) views HAL to be "major beneficiary" of global oilfield activity and views consensus expectations as reasonable but co could see near-term downside from frac pricing

** Citigroup ("buy"; PT: $45) sees co's forecast to be lighter than what commentary from peers implied and says "HAL appears well-positioned" for higher post-conflict upstream spending and greater support for local resource development, including shale

** J.P.Morgan (overweight"; PT: $42) says Halliburton struck a notably constructive tone, with international strength and improving North American activity reinforcing the case for higher upstream spending and better pricing ahead

 (Reporting by Dharna Bafna in Bengaluru)

 ((dharna.bafna@thomsonreuters.com))