Information Provided By:
Fly News Breaks for August 26, 2015
HP
Aug 26, 2015 | 08:58 EDT
JPMorgan analyst Sean Meakim said that as the downturn in oil drags on he thinks the drillers will eventually catch up to services, as land drillers have the "fattest margins left to squeeze." Noting that the firm's new U.S. rig count forecast pushes out recovery to at least 2017, Meakim upgraded Helmerich & Payne to Neutral from Underweight, stating that its "best-in-class" contract coverage is a significant positive during such a downturn. Meakim, however, lowered his price target on Helmerich & Payne shares to $52 from $60.
News For HP From the Last 2 Days
There are no results for your query HP