RBC Capital Downgrades Helmerich & Payne to Sector Perform, Lowers Price Target to $45
Portfolio Pulse from richadhand@benzinga.com
RBC Capital's analyst Keith Mackey has downgraded Helmerich & Payne (NYSE:HP) from Outperform to Sector Perform and lowered the price target from $53 to $45.
July 10, 2023 | 9:18 am
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Helmerich & Payne has been downgraded by RBC Capital from Outperform to Sector Perform, with a reduced price target of $45.
The downgrade from Outperform to Sector Perform by RBC Capital indicates a less optimistic outlook for Helmerich & Payne. The reduction in price target from $53 to $45 also suggests that the analyst believes the stock is overvalued at current levels. This could potentially lead to a decrease in the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100