Barclays Downgrades Helmerich & Payne: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Barclays has downgraded Helmerich & Payne (NYSE:HP) from an unspecified rating to Equal-Weight and lowered the price target from $44.00 to $40.00. HP's shares are currently trading down at $33.28, which is 1.68% lower than the last 24 hours. The new price target suggests a potential upside of 20.19% from the current share price. Helmerich & Payne operates the largest fleet of U.S. land drilling rigs and is a significant player in U.S. shale plays.
January 10, 2024 | 5:00 pm
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Barclays downgraded Helmerich & Payne to Equal-Weight and reduced the price target from $44.00 to $40.00. The stock is currently trading down by 1.68% at $33.28.
The downgrade by Barclays is a direct opinion on Helmerich & Payne's stock, suggesting a neutral outlook with a reduced price target. While the new target still implies a potential upside, the downgrade itself could lead to short-term negative sentiment among investors. However, the impact may be moderated by market conditions and other analysts' views.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100