Halliburton (HAL) Price Target Boosted by Several Analysts

Halliburton (NYSE:HAL) had its price target boosted by numerous analysts in response to a stellar quarter and strong outlook.

Halliburton generated net income of $511 million, or $0.56 a share, against $206 million, or $0.23 a share, for the same quarter in 2010. Revenue soared to $5.28 billion in the quarter, a 40 percent increase over last year.

The North American market led the way for Halliburton, with revenue climbing 75 percent.

Significant contracts ensure the company will continue to perform strongly over the next several years.

Halliburton (HAL) had its price target raised by analysts at Howard Weil from $63.00 to $73.00. They have an “outperform” rating on the company.

Barclays Capital raised its price target on Halliburton to $74.00. They have an “overweight” rating on the company.

Wunderlich raised its price target on Halliburton from $65.00 to $75.00. They have a “buy” rating on the company.

FBR Capital raised its price target on Halliburton from $72.00 to $80.00. They have an “outperform” rating on the company.

Goldman Sachs (NYSE:GS) raised its price target to $70.00 on the Halliburton.

Susquehanna raised its price target on Halliburton to $64.00.

UBS AG (NYSE:UBS) raised its price target on Halliburton from $63.00 to $68.00. They have a “buy” rating on the company.

Halliburton closed Tuesday at $55.38, gaining $2.26, or 4.25 percent.