Goldman Sachs Changes Oil Services Ratings (HAL, WFT, SII, SLB, BHI)

April 10, 2008 by Douglas A. McIntyre

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 jonogg@247wallst.com and he does not own securities in the companies he covers.