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Fly News Breaks for July 28, 2017
HP
Jul 28, 2017 | 05:31 EDT
Citi analyst Scott Gruber downgraded Helmerich & Payne to Sell and cut his price target for the shares to $43 from $58. The dividend is at risk of a cut since the company is likely to fall well short of consensus EBITDA expectations in a falling rig count environment, Gruber tells investors in a research note. He does not believe the 5.3% yield fully reflects the downside risk.
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