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Investing.com - TD Cowen raised its price target on Helmerich & Payne (NYSE:HP) to $27.00 from $26.00 on Tuesday, while maintaining a Hold rating on the drilling contractor’s stock.
The firm noted that Helmerich & Payne’s third-quarter results demonstrated resilient North American Solutions (NAS) margins, early indications of stabilization in international markets, and steady contributions from offshore operations.
TD Cowen highlighted that the company’s fourth-quarter guidance was "better than feared," which drove relative outperformance compared to the Oil Services ETF (OIH) on the day of the announcement.
The research firm acknowledged that Helmerich & Payne’s valuation appears attractive based on what TD Cowen considers conservative estimates for the company.
Despite the positive developments, TD Cowen maintained its Hold rating on Helmerich & Payne, citing uncertainty in the macroeconomic environment as the primary reason for its cautious stance.
In other recent news, Helmerich & Payne Inc. announced impressive financial results for the third quarter of 2025. The company reported earnings per share of $0.22, surpassing the anticipated $0.18, marking a 22.22% positive surprise. Additionally, Helmerich & Payne’s revenue reached $1.04 billion, exceeding the forecasted $1.01 billion. These earnings and revenue results are significant developments for the company. The strong financial performance was well-received, as noted in the latest earnings call. This marks a noteworthy achievement for Helmerich & Payne, reflecting their robust operational execution during the quarter. Such financial results are crucial for investors monitoring the company’s performance.
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