Seaport Research lowered the firm’s price target on NOV Inc. to $23 from $25 and keeps a Buy rating on the shares. The firm compressed its target multiple after the company’s EBITDA margin for Q4 and guidance for 2024 “disappointed.” However, Seaport is a buyer of the stock here, saying its confidence in NOV’s ability to achieve its profitability goals over the rest of this cycle is intact.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on NOV:
- NOV Inc. shares drop 8.3% to $18.23 as company conducts conference call
- NOV Inc. sees FY24 revenue up 4%-8% y/y, consensus $9.28B
- NOV Inc. sees Energy Products and Services Q1 revenue up in MSD range y/y
- NOV Inc. sees ‘sharp’ sequential decline in XL Systems’ Q1 revenue
- NOV Inc.: Strong capital equipment deliveries not expected to repeat in Q1