Market Overview

UPDATE: Jefferies & Company Reiterates Buy Rating, Lowers PT on National Oilwell Varco

Related NOV
Benzinga's Top Upgrades, Downgrades For November 29, 2017
Benzinga's Top Upgrades, Downgrades For August 17, 2017

In a report published Friday, Jefferies & Company reiterated its Buy rating on National Oilwell Varco (NYSE: NOV), but lowered its price target from $94.00 to $90.00.

Jefferies noted, “Recent share weakness (NOV is down 700 bps vs. the OSX in the last three weeks) creates an attractive relative opportunity, in our view. We think order fixation is overblown and anyway the prospect for a flat 2013 with 2012 and for growth beyond (growing contribution from non-rig sources) is reasonable. U.S. headwinds are relevant (and new) but modest and do not undermine our view of $9 in EPS power.”

National Oilwell Varco closed on Thursday at $74.88.

Latest Ratings for NOV

Nov 2017SunTrust Robinson HumphreyUpgradesSellHold
Oct 2017CitigroupMaintainsNeutral
Oct 2017BarclaysMaintainsEqual-Weight

View More Analyst Ratings for NOV
View the Latest Analyst Ratings

Posted-In: Jefferies & CompanyAnalyst Color Price Target Analyst Ratings


Related Articles (NOV)

View Comments and Join the Discussion!