Jefferies Reiterating Buy On Hallburton (HAL)

Jefferies & Co. is reiterating its Buy rating and is raising its price target on shares of Hallburton HAL to $63 from $59. In a note to clients, Jefferies writes, "HAL reported strong first-quarter results, especially in North America fueled by increased service intensity in oil and liquids-rich areas. Sustainability of NAM strength and rising international activity levels bode well for the shares of HAL. Reiterate our Buy, PT up to $63 from $59." Shares of HAL gained 32 cents yesterday to close at $47.14, a gain of 0.7%.