03:30 AM EDT, 05/15/2026 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

Our 12-month target price of $22, raised $3, reflects a 4.8x multiple of enterprise value to projected FY 27 (Sep.) EBITDA, about in line with HP's historical forward average. We now see a FY 26 loss per share of $0.28 vs. prior EPS estimate of $0.12. For FY 27, we keep our EPS estimate unchanged at $0.85. We believe our below-consensus view on earnings power in both FY26 and FY27 speaks to a more tepid pace of recovery in North America, where pricing pressure is still evident. We also note that the International land rig business likely depends, to a significant degree, on how quickly the Middle East recovers from the disruption imposed by the war with Iran. We think E&P customers are not likely to aggressively pursue land drilling expansion plans beyond current budgets (at least not in CY 26). We note that E&Ps also divert a considerable portion of operating cash flow to other areas, such as buybacks and dividends.