Dahlman Rose Comments on Halliburton

Dahlman Rose & Co. has published a report on Halliburton HAL commenting on the earnings release. In the report, Dahlman wrote, "North American revenues and earnings significantly exceeded our estimates in the quarter, reflecting extremely strong conditions in drilling horizontally for oil and liquids-rich shales and strong pricing conditions. Revenues in North America surged 16% sequentially, compared with a 6% gain in the rig count, to $3,445 million (up from $2,982 million last quarter and our $3,232 estimate)." Dahlman Rose & Co. rated Halliburton a BUY with a price target of $74.00. Halliburton closed at $53.07 on Friday.