Street View: Analysts bearish on Halliburton's outlook on expected North America demand

Oilfield services company Halliburton HAL.N beat fourth-quarter profit estimates on Wednesday, on the back of steady demand for its services and equipment in international markets

Company adds it would look to re-enter Venezuela as soon as commercial and legal terms, including payment certainty, are resolved in the South American country

The company forecast international revenue to be flat to up modestly in 2026; expects 2026 North America revenue to decline in the high single digits compared to 2025

In 2025, HAL was up ~4%

ANALYSTS PERCEIVE THE OUTLOOK AS GLASS-HALF-FULL

J.P. Morgan ("Overweight"; PT: $35) says, "We expect the company's top line to decline by 2% in 2026, with a 1.9% increase in international markets and a 7.6% decline in North America markets"

RBC Capital Markets ("Outperform"; PT: $38) views growth from increased oil extraction in Venezuela to remain a "potential wild card"

Adds, "the outlook is generally in line with the Street, though we might have thought North America would be a bit better."

Stifel ("Buy"; PT: $36) expects rebound in 2027 for North America