NOV Inc. price target lowered to $24 from $25 at Stifel
The Fly

NOV Inc. price target lowered to $24 from $25 at Stifel

Stifel analyst Stephen Gengaro lowered the firm’s price target on NOV Inc. (NOV) to $24 from $25 and keeps a Buy rating on the shares. NOV’s better-than-anticipated Q3 adjusted EBITDA and strong free cash flow should support NOV’s previously announced large capital return framework, which includes a recent 50% dividend hike, a $1B buyback, and a supplemental dividend to top off the annual cash returns to shareholders totaling 50% of free cash flow, the analyst tells investors.

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