Helmerich & Payne price target raised to $42 from $40 at Barclays

Barclays raised the firm’s price target on Helmerich & Payne to $42 from $40 and keeps an Equal Weight rating on the shares. The company easily cleared the low expectations set into the earnings print driven by the company’s “unique” lower 48 state performance contracts delivering tangible premium profitability and impressive international tailwinds led by the deployment of nine additional rigs to the Middle East by 2025, the analyst tells investors in a research note.