UPDATE: Goldman Sachs Raises PT on Halliburton to $70

Goldman Sachs is out with its report today on Halliburton HAL, raising its PT from $66 to $70. In a note to clients, Goldman Sachs writes, "HAL reported adjusted 2Q11 EPS of $0.81 vs. our estimate of $0.75 and consensus of $0.74. Stronger results in N.A. (+$0.09) more than offset lower international results. We raise our 2011/2012/2013 EPS estimates by 7%/12%/8% due to higher growth and margin estimates. We raise our six-month, EBITDA-based price target by $4, to $70, due to higher estimates." Goldman Sachs maintains Buy on Goldman Sachs. At the time of posting, shares of HAL were trading pre-market at $53.65, up 1.00% from Monday's close.