Analysts Say Helmerich & Payne (HP) Share Gain, Cost Controls to Drive Valuation

November 19, 2012 10:16 AM EST
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Price: $78.49 --0%

Rating Summary:
    12 Buy, 19 Hold, 5 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 7 | Down: 8 | New: 1
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Jefferies reiterated a Buy rating on Helmerich & Payne (NYSE: HP) and raised its price target to $59.00 (from $55.00).

Commenting on Helmerich and Payne’' Q4 results, analyst Brad Handler said "HP delivered a solid 4QFY12 beat on U.S. onshore cost control and sequential dayrate improvement as older Flex 3 contracts roll to higher rates. Cost control success suggests there is conservatism in our new higher FY2013 EPS of $5.30 (from $4.60)."

Handler expects multiple expansion as HP gains market share, while keeping a lid on costs.

For an analyst ratings summary and ratings history on Helmerich & Payne click here. For more ratings news on Helmerich & Payne click here.

Shares of Helmerich & Payne closed at $49.92 yesterday.

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