Sterne Agee Lowers HAL 2011 Estimate

Sterne Agee has lowered Halliburton Company's HAL 2011 estimates. According to Sterne Agee, "Our EPS expectations are fully loaded with the Manifa expectations given our read-through from prior management comments regarding the long-awaited project; thus our 2012 outlook remains unchanged at $3.61 versus the consensus of $3.47. Our full-year 2011 with the changes above and assumptions that Libya will be off line for the near future brings our outlook down to $2.94 from $3.00." HAL has a Buy Rating and a $55 PT. HAL closed at $47.90 yesterday.