Goldman Sachs upgraded Helmerich & Payne to Neutral from Sell with a price target of $28, up from $20. The firm is positive on the company’s exposure to Saudi activity improvements in 2026, along with further upside from Oman and Algeria, that should create positive rate of change for rig activation throughout the year along with an improving balance sheet in a relatively more stable North America backdrop, the analyst tells investors in a research note.
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