Barclays Downgrades Helmerich & Payne to Equal-Weight, Lowers Price Target to $40
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst David Anderson has downgraded Helmerich & Payne (NYSE:HP) from Overweight to Equal-Weight and reduced the price target from $44 to $40.
January 10, 2024 | 11:48 am
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Barclays analyst David Anderson downgraded Helmerich & Payne from Overweight to Equal-Weight and lowered the price target from $44 to $40.
Analyst downgrades typically lead to a negative short-term reaction in the stock price as they suggest a less favorable outlook for the company. The reduction in the price target further supports the expectation of a decrease in stock value in the short term.
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IMPORTANCE 80
RELEVANCE 100