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

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.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Lake Street Downgrades Identiv, Inc. (INVE) to Hold
• Qualcomm (QCOM) PT Raised to $265 at Rosenblatt
• Micron Technology (MU) PT Raised to $2,000 at DA Davidson: Has 'Best Visibility'