Helmerich & Payne Inc.’s (HP) Coverage Initiated With Positive Rating And $44 Price Target

Analysts Charles Minervino and James Shumm at Susquehanna Financial Group have initiated coverage for Helmerich & Payne Inc. (NYSE: HP) with Positive rating. The price target for Helmerich & Payne stock has been set at $44.

Analysts believe that the consensus EPS estimates for 2010-2012 at the company are too low. Analysts estimate EPS of $2.39 in 2010, $2.76 in 2011 and $2.93 in 2012. Analysts believe that there is room for additional upside in long-term contract coverage especially for FlexRigs.