Citi upgraded Helmerich & Payne to Buy from Neutral with a price target of $40, up from $33. The analyst also opened a “90-day positive watch” on the shares. While the drop in KCA Deutag EBITDA remains uncertain, the stock is discounting an even worse outcome, the analyst tells investors in a research note. The firm believes the closing of the KCA transaction and provision of a consolidated forecast should “act as a clearing event.”
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Read More on HP:
- Helmerich & Payne Announces Acquisition of KCA Deutag
- Helmerich & Payne price target raised to $35 from $34 at Goldman Sachs
- HP (NYSE:HPQ) Faces Short-Term Pressures but Eyes PC Recovery and Margin Rebound
- Helmerich & Payne price target lowered to $36 from $39 at Barclays
- Helmerich & Payne price target lowered to $41 from $44 at RBC Capital
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