Forecast Of The Day: Halliburton’s Middle East & Asia Revenue
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.
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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.
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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|S&P 500 Return||-1%||-6%||100%|
|Trefis MS Portfolio Return||0%||-10%||255%|
 Month-to-date and year-to-date as of 2/8/2022
 Cumulative total returns since the end of 2016