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Fly News Breaks for June 21, 2016
HP
Jun 21, 2016 | 06:31 EDT
KeyBanc analyst Robin Shoemaker upgraded Helmerich & Payne to Overweight and established an $80 price target. Shoemaker believes Helmerich is the best-positioned land drilling contractor ahead of an upturn in U.S. land rig activity, which has already begun. He expects Helmerich's 1500 idle AC-Drive land rigs will be the rigs of choice as the market recovers and for the company to supply approximately 50% of incremental demand for horizontal drilling services, further solidifying its market leadership.
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