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Fly News Breaks for July 23, 2019
HAL
Jul 23, 2019 | 06:04 EDT
Citi analyst Scott Gruber lowered his price target for Halliburton to $30 from $33 after the company reiterated its 2019 capex guide of $1.6B and said 2020 capex should be significantly less than 2019 levels. The analyst models $1.35B and expects part of the stock's rally yesterday was driven by this "conservative outlook." Nonetheless, his lowered his earnings estimates while maintaining a Buy rating on Halliburton.
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