Loading...
Loading...
National Oilwell Varco
NOV reported better than estimated EPS in its 2Q, showing $0.97 over Dahlman's $0.95. Net new orders were up to $660M while backlog revenue decreased to $1.25B, mostly from offshore projects.
National Oilwell Varco has increased inquiries for upgrades and replacement of existing equipment due to pending legislation over blowout prevention requirements, allowing for a potential backlog that could net between hundreds of millions to billions of dollars in the coming quarters, according to Dahlman.
Demand is high, and the price target is at $75 while Dahlman reiterates its "buy" rating.
National Oilwell Varco closed yesterday at $38.88.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Posted In: Analyst ColorLong IdeasNewsGlobalMarketsAnalyst RatingsDahlman RoseNational Oilwell Varco
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