On Oct 28, major Wall Street analysts update their ratings for $NOV Inc (NOV.US)$, with price targets ranging from $21 to $25.
Morgan Stanley analyst Daniel Kutz maintains with a buy rating, and adjusts the target price from $23 to $21.
Evercore analyst James West maintains with a buy rating, and adjusts the target price from $27 to $25.
TD Cowen analyst Marc Bianchi maintains with a buy rating, and adjusts the target price from $28 to $22.
Stifel analyst Stephen Gengaro maintains with a buy rating, and adjusts the target price from $25 to $24.
RBC Capital analyst Keith Mackey maintains with a hold rating, and maintains the target price at $21.
Furthermore, according to the comprehensive report, the opinions of $NOV Inc (NOV.US)$'s main analysts recently are as follows:
The expectation is that the ongoing cycle will continue to benefit NOV Inc., with the company's emphasis on enhancing its supply chain and profitability profile predicted to increase cash flows, leading to a more rapid distribution of cash to shareholders.
NOV Inc.'s Q3 adjusted EBITDA surpassed expectations, and robust free cash flow is anticipated to back the company's substantial capital return plan. This plan is marked by a significant dividend increase, an extensive share repurchase program, and the addition of a supplementary dividend, which collectively aim to distribute an annual total equating to 50% of the company's free cash flow to its shareholders.
The firm expressed that NOV Inc.'s fourth-quarter guidance was more disappointing than anticipated due to a product mix that is impacting margins negatively. Furthermore, the outlook for a subdued first half of the year was suggested by indications that offshore drilling clients might reduce expenditures in light of impending contract intervals.
Here are the latest investment ratings and price targets for $NOV Inc (NOV.US)$ from 7 analysts:
Note:
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