In a report published Friday, RS Platou Markets reiterated its Buy rating on National Oilwell Varco NOV, and raised its price target from $100.00 to $105.00.
RS Platou noted, “We see another wave of floater newbuilds after a relatively weak 1H12. We believe 8-12 newbuild orders could materialize over the coming months, partly driven by expected changes in US safety regulations. Channel checks suggest NOV rig packages on most of these...We reiterate a Buy recommendation on National Oilwell Varco and increase our TP to USD 105 from USD 100. Our TP is based on 2013E EV/EBITDA of 8x and implies P/E of 15x.”
National Oilwell Varco closed on Thursday at $79.66.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in