Helmerich & Payne price target raised to $38 from $33 at Citi

Citi analyst Scott Gruber raised the firm’s price target on Helmerich & Payne to $38 from $33 and keeps a Neutral rating on the shares. The analyst remains positive on an extended international upcycle and says the U.S. rig count bottom likely hits in the next few months. This creates a “tricky set-up” for oil and gas equipment names, the analyst tells investors in a research note. For the “Big 3,” Citi expects a “muted” earnings season.