RBC Capital analyst Keith Mackey has revised the price target for NOV Inc. (NOV, Financial), lowering it from $22 to $20 while maintaining an Outperform rating on the stock. This adjustment is part of an overall assessment of the Oil & Gas Equipment & Services sector. The segment has been experiencing pressure due to tariff issues and macroeconomic concerns, leading to a widespread sell-off in recent weeks.
Previously, the firm had anticipated a gradual recovery for the sector by 2026. However, recent developments have caused RBC Capital to reassess these expectations, suggesting a less optimistic outlook for the recovery timeline. The firm now advocates a more defensive investment strategy, favoring stocks that demonstrate robust backlog coverage, involvement in natural gas activities, strong free cash flow, and minimal balance sheet leverage.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 22 analysts, the average target price for NOV Inc (NOV, Financial) is $18.09 with a high estimate of $26.00 and a low estimate of $10.00. The average target implies an upside of 50.13% from the current price of $12.05. More detailed estimate data can be found on the NOV Inc (NOV) Forecast page.
Based on the consensus recommendation from 23 brokerage firms, NOV Inc's (NOV, Financial) average brokerage recommendation is currently 2.5, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for NOV Inc (NOV, Financial) in one year is $21.42, suggesting a upside of 77.76% from the current price of $12.05. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the NOV Inc (NOV) Summary page.
