NOV Inc. price target raised to $29 from $26 at Susquehanna

Susquehanna analyst Charles Minervino raised the firm’s price target on NOV Inc. to $29 from $26 and keeps a Positive rating on the shares. The analyst said we believe NOV is entering a key part of its cycle that should include strong revenue growth, margin expansion, and order activity. It also appears supply bottlenecks are loosening, which should bode well for delivering on backlog and margins.