Citigroup cuts PT on Halliburton
** Brokerage Citigroup lowers price target on oilfield services firm Halliburton HAL.N to $35 from $38
** HAL shares down 0.2% in premarket trading
** The new PT represents a 20% upside to the stock's last close
** Says investors have been concerned about the end-of-the-year fracking slowdown in 2024, with focus now shifting to 2025 earnings
** Expects HAL's completion and production segment (C&P) margins to drop in FY2025on pricing headwinds in the U.S.
** Brokerage forecasts FY2025C&P revenue down 1% with margins expected to slide by 160 basis points
** Citi expects HAL to report 2025 EBITDA of $4.95 billion, below analysts' average estimates of $5.26 billion, according to data compiled by LSEG
** Twenty-four of 28 brokerages rate the stock "buy" or higher, 4 "hold"; their median PT is $39
** Up till last close, stock down 19.14% YTD
Reporting by Pooja Menon in Bengaluru
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