Halliburton Price Target Raised by BMO on Improved North America Outlook

Font: Financial Modeling Prep  • Mar 25, 2026

BMO Capital raised its price target on Halliburton (NYSE: HAL) to $42 from $39, while maintaining a Market Perform rating, reflecting modestly improved earnings expectations.

The firm said its updated forecasts resulted in minimal changes to first-quarter 2026 estimates despite ongoing geopolitical tensions in the Middle East related to the U.S.-Iran conflict.

BMO noted that while uncertainty remains elevated, Halliburton’s business appears relatively insulated from the disruption so far.

The firm also expects an improved outlook for North America (NAM), indicating that industry spending could exceed prior expectations, which had assumed a mid-single-digit decline.

As a result, BMO raised its 2027 earnings per share estimate to $2.74 from $2.69, slightly above the consensus estimate of $2.69, while acknowledging the potential for further upside. The revised outlook supported the increase in the firm’s price target to $42.