Helmerich & Payne downgraded to Market Perform from Outperform at Cowen Cowen's survey indicates the oil and gas industry is expecting lower North American and international E&P spending and that consensus earnings to need to come down further. As a result, the firm downgraded Helmerich and lowered its price target to $86 from $89.
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Helmerich & Payne, Tesco estimates raised at FBR Capital FBR Capital raised its estimates for Helmerich & Payne (HP) and Tesco (TESO) citing recent strength of the Tier 1 land drilling market. FBR raised its price target for Helmerich shares to $107 from $98 and for Tesco to $27 from $22 while keeping Outperform ratings on both names.