RBC Capital analyst Keith Mackey raised the firm’s price target on Helmerich & Payne to $50 from $48 and keeps a Sector Perform rating on the shares. The company reported a “solid” Q3 result, and the firm is positive on its $1.97Bn acquisition of KCA Deutag as it accelerates the company’s international growth strategy, the analyst tells investors in a research note. RBC stays at neutral however pending more visibility on Helmerich & Payne free cash flow and debt-paydown schedule, the firm added.
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