Piper Sandler raised the firm’s price target on Helmerich & Payne to $40 from $35 and keeps an Overweight rating on the shares. While Q1 results delivered a beat, the Q2 came in below consensus as International reactivation expenses are expected to weigh on results, causing momentum to reverse for Helmerich & Payne. The company expects a weaker rig count in the near term given customer churn. However, the company maintained its full year guidance range implying rigs step back up into the 140 range for the second half of 2026.
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