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Helmerich & Payne (HP +2.5%) moves up on RBC Capital's upgrade and raised target price...
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Tuesday, October 16, 2012, 12:23 PM ETHelmerich & Payne (HP +2.5%) moves up on RBC Capital's upgrade and raised target price (to $58 from $54) based on early indications that 2013 E&P capex budgets will gain ~10%-20% Y/Y. RBC also believes rig quality, well capitalized customer base and contract visibility gives HP the best relative position among land drillers in 2013.
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