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

Article Related Press Releases (1) Related Articles (1) Stock Quotes (1) Comments (0)

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, with a 52 week range of $38.71-$68.60.

---

Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW

---

*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here

---

---

You May Also Be Interested In

• UPDATE: UBS Downgrades Carnival (CCL) to Neutral; Worst May Not Be Behind
• First Time Cruisers Pass on Carnival (CCL); Wells Fargo Cuts to Market Perform
• Jefferies Bumps PT/Est. on AO Smith (AOS)

Create E-mail Alert Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

Related Entities

Jefferies & Co

Add Your Comment

Name

Subject

Body

Share on Facebook

Verification
can't see the text?
click here to refresh the image.
what's this?