Jefferies analyst Brad Handler upgraded Helmerich & Payne to Buy and raised his price target for the shares to $80 from $72. The stock's 13% pullback over the past month is unwarranted, Handler tells investors in a research note. The analyst expects any Permian fall-off to "be shallow and limited" to the second half of 2018. Further, he believes U.S. land drilling fundamentals remain strong. Helmerich retains "best-in-class exposure to a super-spec rig market" that should allow for strong free cash flow inflection through the next 24 months, the analyst contends.