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Fly News Breaks for September 20, 2018
HP
Sep 20, 2018 | 07:00 EDT
As reported earlier, RBC Capital analyst Kurt Hallead upgraded Helmerich & Payne to Outperform from Sector Perform and raised his price target to $90 from $79. The analyst cites the company's "dominant market position for super spec land rigs" and also points to its potential for increased market share through rig upgrade as well as its "industry leading dividend yield". Hallead adds that he is basing his price target on a 9.4-times expected FY20 EBITDA multiple, which is still below the company's long-term historical average.
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