Dow Jones industrial average components Home Depot (HD) and Wal-Mart (WMT) had their price targets raised Wednesday after strong earnings results, while analysts also hiked price targets for oilfield service providers Baker Hughes (BHI), Halliburton (HAL) and Schlumberger (SLB).
Home Depot
RBC Capital Markets raised Home Depot's price target to 158 from 153. On Tuesday, the home-improvement chain reported fourth-quarter results above Wall Street views, raised its dividend, and OK'd a $15 billion buyback.
Home Depot shares edged up 0.2% to 145.25 on the stock market today after rising 1.4% Tuesday to a record high.
Oilfield Service Providers
FBR & Co. raised Baker Hughes' price target to 65 from 62 and boosted Halliburton's to 70 from 69. The analysts also raised Schlumberger's to 107 from 105. FBR has outperform ratings on the companies.
Baker Hughes was unchanged at 60.55, Halliburton sank 1.45% to 53.06 and Schlumberger slid 1.2% to 79.70.
IBD'S TAKE: As oil prices rise, producers are increasing their capital spending commitments and rig counts are climbing higher. That's helping investors who fled the sector grow comfortable enough to take another look at oilfield services and equipment-provider segments.
Wal-Mart
Stifel raised Wal-Mart's price target to 72 from 70, and RBC Capital Markets raised its price target on the discount retailer to 67 from 66.
On Tuesday, Wal-Mart reported strong Q4 earnings as online sales and same-store sales jumped, and gave a full-year revenue guidance above analyst estimates.
Shares climbed 0.4% to 71.71 after gapping higher for a 3% gain Tuesday.
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