As previously reported, Piper Sandler analyst Derek Podhaizer upgraded Helmerich & Payne to Overweight from Neutral with a price target of $35, up from $21. The firm views both Helmerich & Payne (HP) and Nabors Industries (NBR) as key beneficiaries of Saudi Arabia returning to work. While Helmerich & Payne’s acquisition of KCA was ill-timed, it appears the company has found its footing, setting an attainable deleveraging path supported by a significant capex cut, Piper argues.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on HP: