Goldman Sachs has made a change in its oil services sector expectation this morning:
It has raised Halliburton (NYSE: HAL) to Buy from Neutral and has raised 2008 EPS estimates by about 2.5% and raised 2009 EPS estimates by almost 2%. This has been some time now, but Halliburton was Jim Cramer’s #3 Value Pick for 2007.
Weatherford International Ltd. (NYSE: WFT) was downgraded from Buy to Neutral, and Weatherford’s EPS estimates for 2008 and 2009 have been lowered slightly.
Estimates were also raised for Smith (NYSE: SII), Schlumberger (NYSE: SLB), Baker Hughes (NYSE: BHI).
Shares of Halliburton are indicated up over 1.5% at $42.85 in pre-market trading.
Jon C. Ogg
April 10, 2008
Jon Ogg produces the Special Situation Investing Newsletter. He can be reached at firstname.lastname@example.org and he does not own securities in the companies he covers.