NOV Reports Third Quarter 2024 Results
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NOV Inc. (NOV) PT Lowered to $20 at JPMorgan
October 28, 2024 6:07 AM EDTJPMorgan analyst Arun Jayaram lowered the price target on NOV Inc. (NYSE: NOV) to $20.00 (from $22.00) while maintaining a Overweight rating.
The analyst comments "JPM View: One of the key themes from NOVs 3Q24 print was the potential for rising demand for production equipment to offset softening offshore capital equipment trends given white space challenges for the offshore drillers. NOV delivered upbeat 3Q24 results that featured inbound order strength, a slight margin beat, and higher FCF, but the forward guide was softer than expected given lower short cycle activity as well as some brewing... More
