Goldman Sachs Maintains Sell Rating for Helmerich & Payne: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Goldman Sachs has reaffirmed its Sell rating on Helmerich & Payne (NYSE:HP) and reduced its price target from $37.00 to $33.00. Despite this, HP shares have risen by 0.84% in the last 24 hours to $33.69. The new price target suggests a potential downside of 2.05%. Helmerich & Payne operates the largest fleet of U.S. land drilling rigs and is a significant player in U.S. shale plays.
January 12, 2024 | 5:00 pm
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Goldman Sachs maintains a Sell rating on Helmerich & Payne and lowers the price target to $33, indicating a potential 2.05% downside from the current price.
The reaffirmation of the Sell rating and reduction in price target by a prominent financial institution like Goldman Sachs can influence market sentiment and potentially lead to a short-term decrease in HP's stock price. The current upward movement in HP's stock may be temporary, as the new price target suggests a slight decrease.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100