Jefferies raises PT of 'well positioned' oilfield services companies

Sport Lisboa e Benfica Futebol SAD

13/01/2023 14:47

** Jefferies boosts PTs of Baker Hughes Co  BKR.N , SLB NV
 SLB.N  and Halliburton Co  HAL.N , the three large-cap oilfield
services (OFS) companies; expects the trend of 'solid earnings'
for the companies to continue  
    ** The brokerage sees large-cap OFS companies as well
positioned to capitalize on rising global activity on pricing  
    ** Improved margins, growing digital integration and
continuing investments in new energy are some of the other
costructive themes for the companies in 2023 - Jefferies
    ** The brokerage also expects the companies to continue with
'disciplined spending strategy' in 2023
    ** BKR, HAL and SLB gained between 22.7%-78.5% last year 
 Company name               PT change
 Baker Hughes Co  BKR.N     $39 from $36
 Halliburton Co  HAL.N      $51 from $44
 SLB NV  SLB.N              $70 from $64
 (Reporting by Sourasis Bose in Bengaluru)
 ((Sourasis.bose@thomsonreuters.com))