Halliburton "buy"

08/26/05 - Banc of America

NEW YORK, August 26 (newratings.com) - Analysts at Banc of America Securities reiterate their "buy" rating on Halliburton (HAL). The target price is set to $66.

In a research note published this morning, the analysts mention that the company appears to be on a positive track in terms of capital spending and the growth of its energy services group. The disposal of Halliburton’s KBR business is likely to involve some public monetization, the analysts add. The company is expected to allocate its capital spending levels in a competitive manner with the current capital targeting an un-levered return of 15% in the near future, Banc of America Securities adds.