Helmerich & Payne price target lowered to $25 from $29 at RBC Capital

RBC Capital lowered the firm’s price target on Helmerich & Payne to $25 from $29 and keeps a Sector Perform rating on the shares. The company’s Q2 EBITDA was in-line with the Street, but the stock underperformed land drillers largely based on lower fiscal Q3 International guidance, the analyst tells investors in a research note. The year-to-date stock performance has already baked in significant downside, but the firm is looking for more visibility toward international improvement before potentially becoming more constructive.