NOV Inc. price target lowered to $22 from $24 at Susquehanna
Susquehanna lowered the firm's price target on NOV Inc. to $22 from $24 and keeps a Positive rating on the shares. The firm updated its model ahead of the upcoming earnings season as the near-round trip in commodity prices has altered the outlook for the industry once again. Susquehanna said while the recent flare-up between the US and Iran is a reminder that the Middle East situation remains uncertain, they believe the medium-term backdrop is favorable for increased oilfield services spending over the next few years.
Susquehanna lowered the firm's price target on NOV Inc. to $22 from $24 and keeps a Positive rating on the shares.
The firm updated its model ahead of the upcoming earnings season as the near-round trip in commodity prices has altered the outlook for the industry once again.
Susquehanna said while the recent flare-up between the US and Iran is a reminder that the Middle East situation remains uncertain, they believe the medium-term backdrop is favorable for increased oilfield services spending over the next few years.