RBC Capital lowered the firm’s price target on Helmerich & Payne to $41 from $44 and keeps a Sector Perform rating on the shares after its Q4 earnings miss. The company continues to focus on U.S. margins and expanding its International presence, though closing the KCA Deutag acquisition around Jan. 1, 2025 will be a key step in the company’s strategic direction, the analyst tells investors in a research note. RBC adds however that it remains neutral on shares and looks for more visibility on debt repayment after the close of the KCA acquisition.
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