Benchmark analyst Kurt Hallead notes that Helmerich & Payne provided an updated financial outlook after the close yesterday and increased the mid-point of its North America Solutions gross margin by $5M while it reduced the mid-point of International gross margin by a similar amount. The stock is down more than 5% despite FY24 EBITDA tracking in-line with current consensus, says the analyst, who calls the selloff “unwarranted.” The firm has a Buy rating and $50 price target on Helmerich & Payne shares.
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