J.P. Morgan analyst Arun Jayaram maintains $NOV Inc (NOV.US)$ with a buy rating, and adjusts the target price from $23 to $22.
According to TipRanks data, the analyst has a success rate of 53.9% and a total average return of 9.0% over the past year.
Furthermore, according to the comprehensive report, the opinions of $NOV Inc (NOV.US)$'s main analysts recently are as follows:
Sentiment toward the oilfield services sector is currently quite low, seemingly factoring in a situation where declining crude prices could diminish revenues and squeeze margins. There is some perceived downside risk to crude, suggesting that current estimates might be slightly too optimistic for many companies in the industry. Nonetheless, the potential downside is seen as limited but not severe. A preference is noted for companies with more international exposure, significant potential for stock repurchases, and unique growth opportunities.
Despite indications that robust inbound order activity may persist, a concentration of weaker activity trends in North America might lead NOV Inc.'s Q3 profitability to align with the lower spectrum of the EBITDA guidance. Nonetheless, it is anticipated that the company's strong inbound order trends will be maintained.
Note:
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