tiprankstipranks
NOV Inc. price target lowered to $22 from $24 at Morgan Stanley
The Fly

NOV Inc. price target lowered to $22 from $24 at Morgan Stanley

Morgan Stanley analyst Daniel Kutz lowered the firm’s price target on NOV Inc. to $22 from $24 and keeps an Overweight rating on the shares. The market is signaling downside shale market risk, while companies maintain that near-term risks are limited and the firm lands "in between," the analyst said in an earnings preview for the North American Energy Services & Equipment group. Consistent with its updated macro outlook, the firm has decreased its EBITDA estimates for U.S.-levered small-to-mid cap stocks by about 5% and about 20% in 2023 and 2024, respectively, while its global oil services & equipment revisions are "much more benign," the analyst tells investors.

Published first on TheFly

See today’s best-performing stocks on TipRanks >>

Read More on NOV:

Trending

Name
Price
Price Change
S&P 500
Dow Jones
Nasdaq 100
Bitcoin

Popular Articles