NOV Inc. price target lowered to $20 from $25 at Barclays

Barclays lowered the firm’s price target on NOV Inc. to $20 from $25 and keeps an Equal Weight rating on the shares. Though the Q1 miss came from a short cycle supply chain disruption, it’s the longer cycle narrative that is becoming harder to define in terms of timing and size as spending on both offshore and onshore capital equipment remains restrained, the analyst tells investors in a research note.