Wells Fargo analyst Judson Bailey raised his price target for Helmerich & Payne to $72 from $66 to primarily reflect continued strength in super spec day rates and signs of the super spec rig count holding firm and as recent data points suggesting leading edge rates in the $25-$28k range. The analyst believes the NAM-leveraged smid cap landscape is particularly complicated heading into Q3 EPS season with broad downside risk to Q4 and 2019 estimates but longer-term fundamentals and valuations that generally look appealing. Bailey reiterates a Market Perform rating on the shares.