Street View: Brokerages to remain cautious about Halliburton amid macro uncertainty
Halliburton HAL.N posted lower Q1 profit on Tuesday as a slowdown in drilling activity in North America weakened demand for its oilfield services and equipment
HAL up 1.5% premarket in a high oil price environment on Wednesday
NEAR-TERM EXPECTATIONS REFLECT CLOUDY FORECAST
Stifel ("Buy") cuts PT to $32 from $37, says Q1 results were mixed relative to expectations and Q2 guidance was disappointing
"We are taking a more cautious approach to our forecasts due to the uncertainty created by tariffs and OPEC+" - brokerage
RBC Capital Markets ("Sector Perform," PT: $28) says its confidence in co's outlook has been hit as exploration and production companies navigate commodity price volatility and tariff uncertainty
Evercore ("Outperform" PT: $29) says HAL is likely to continue to labor through this uncertainty even with modestly better international results plus share gains in addition to stabilization (if not improvement) from Mexico
J.P. Morgan cuts PT to $30 from $35, and TD Cowen cuts PT to $32 from $33
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