HMH Holding initiated with an Overweight at Piper Sandler

Piper Sandler initiated coverage of HMH Holding (HMH) with an Overweight rating and $32 price target The firm views HMH as a pure-play capital equipment provider of a comprehensive “wing-to-wing” portfolio of leading drilling products, systems and services utilized in oil and gas drilling operations, both offshore and onshore. The industry faces one of the largest oil supply disruptions in history stemming from the current Middle East conflict, the analyst tells investors in a research note. Piper views HMH’s 2026 as “relatively de-risked,” which it believes sets up a 2027 “inflection story.”