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Fly News Breaks for November 19, 2018
HP
Nov 19, 2018 | 08:00 EDT
As previously reported, Credit Suisse analyst James Wicklund upgraded Helmerich & Payne to Neutral from Underperform following the recent decline in the stock price and given his outlook for 2019-plus. While the analyst acknowledges there are risks to activity from weaker oil prices, the level of drilling needed to maintain production and the economic benefit of superspec rigs combined with the market share and reactivation potential of Helmerich & Payne as well as the surety of the dividend are all key to his upgrade. Wicklund also raised his price target on the shares to $65 from $63.