Helmerich & Payne (HP +2.5%) moves up on RBC Capital's upgrade and raised target price (to...

|About: Helmerich & Payne Inc. (HP)|By:, SA News Editor

Helmerich & 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.