SIG analyst Charles Minervino maintains $NOV Inc (NOV.US)$ with a buy rating, and adjusts the target price from $26 to $22.
According to TipRanks data, the analyst has a success rate of 45.6% and a total average return of -1.7% over the past year.
Furthermore, according to the comprehensive report, the opinions of $NOV Inc (NOV.US)$'s main analysts recently are as follows:
The company's outlook on NOV Inc. has been moderately adjusted due to scaled-back projections for U.S. activity in the second half of 2024 and 2025, as well as a more conservative view on international growth in 2025. The overall expectation for oilfield services companies has been recalibrated with a forecast of roughly flat U.S. activity through 2025. Despite the lack of immediate drivers for stock movement in the sector, the anticipation of strong free cash flow and returns of cash to shareholders remains.
NOV Inc.'s exposure to the later stages of the economic cycle is expected to lead to positive order growth and an increase in margins. However, the company's performance in execution has been inconsistent, and compared to its peers in the oilfield service sector, it presents a more competitive environment with less volatile free cash flow and capital return potential.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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