Halliburton stock forecast: Hightower’s Stephanie Link sees upside

Shares of Halliburton Company (NYSE: HAL) have recovered more than 25% since mid-August, but Hightower’s Stephanie Link is convinced now isn’t the time to sell.

Link’s bullish case for Halliburton

Link says the stock could rally further as it is still trading at a “two multiple-point discount”. On CNBC’s “Squawk Box”, she said:

Link expects Halliburton’s “international revenue”, which currently stands at 60%, to double by 2023. Other reasons why she likes the oil and gas company include “great technology and services” that help customers maximise production at a lower cost. She added:

Legacy energy companies won’t be obsolete

Link is confident that a move to EV won’t make the legacy energy companies “obsolete” as both can “coexist”.

Last month, Halliburton won the Energean drilling services contract for offshore Israel. The $20 billion company with a price to earnings ratio of 140 is down 3.0% in the stock market this morning.