Barclays lowered the firm’s price target on NOV Inc. (NOV) to $16 from $17 and keeps an Underweight rating on the shares. The company posted in-line EBITDA and orders and strong free cash flow though lowered its fiscal 2024 EBITDA guide and pointed to a slower start to 2025 given customers being ‘incrementally more cautious in their near-term spending decisions,” the analyst tells investors in a research note.
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Read More on NOV:
- NOV Inc. price target lowered to $25 from $27 at Evercore ISI
- NOV Inc. price target lowered to $24 from $25 at Stifel
- NOV Inc. price target lowered to $22 from $28 at TD Cowen
- NOV Inc. price target lowered to $21 from $22 at Susquehanna
- NOV Inc. sees 2024 adjusted EBITDA at lower end of previous $1.10B-$1.18B view