Forecast Of The Day: Halliburton’s Middle East & Asia Revenue

-5.27%
Downside
31.43
Market
29.77
Trefis
HAL: Halliburton logo
HAL
Halliburton

What?

Halliburton’s (NYSE:HAL) Middle East & Asia Revenue declined from around $4.2 billion in 2020 to about $3.8 billion in 2021. Trefis expects the metric to recover to about $4.2 billion by 2023.

Why?

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While Covid-19 uncertainty and the oil price wars of 2020 hurt spending by oil and gas companies, we expect longer-term growth to be driven by a rising share of global oil supply coming from the middle east.

So What?

Despite the improved revenue outlook, we think HAL stock is overvalued. We value HAL at about $21 per share, about 35% below the current market price.

See Our Complete Analysis For Halliburton

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 Returns Feb 2022
MTD [1]
2022
YTD [1]
2017-22
Total [2]
 HAL Return 6% 42% -40%
 S&P 500 Return -1% -6% 100%
 Trefis MS Portfolio Return 0% -10% 255%

[1] Month-to-date and year-to-date as of 2/8/2022
[2] Cumulative total returns since the end of 2016

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