Helmerich & Payne price target raised to $32 from $28 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Helmerich & Payne to $32 from $28 and keeps a Neutral rating on the shares. The services rally has raised investor concerns about stretched valuations, but activity is expected to remain largely flat in the U.S. with a modest international inflection into 2H26/2027, suggesting limited estimate changes overall, the analyst tells investors in a research note. The rally is driven by relative sector attractiveness, improving international confidence, and option value from Venezuela, the firm says.