Is 2023 The ''Trickle-Down Year'' For NOV? Why This Wall Street Analyst Is Bullish
Bank Of America analyst Chase Mulvehill upgraded NOV (NYSE: NOV ) with a price target of $19. Key Takeaways: "Trickle-down on the move; upgrade to Buy," Mulvehill said in a note. As NOV crushed earnings in the first half of 2022, management has guided the second half of 2022 adjusted EBITDA of 45% to 55% above the first half of the year levels. Mulvehill, who was previously Neutral on NOV, expects the company to benefit from rising oil field services capex, better pricing|fixed cost absorption and easing supply chains. NOV, formerly known as National Oilwell Varco, is a leading supplier of oil and gas drilling rig equipment and products, such as downhole tools, drill pipe, and well casing . See Also: How To Trade Nike Stock Before And After Q1 Earnings The company is set to become debt neutral by year-end 2023, and Mulvehill reported that he expects some … Full story available on Benzinga.com
Is 2023 The ''Trickle-Down Year'' For NOV? Why This Wall Street Analyst Is Bullish
Bank Of America analyst Chase Mulvehill upgraded NOV (NYSE: NOV ) with a price target of $19. Key Takeaways: "Trickle-down on the move; upgrade to Buy," Mulvehill said in a note. As NOV crushed earnings in the first half of 2022, management has guided the second half of 2022 adjusted EBITDA of 45% to 55% above the first half of the year levels. Mulvehill, who was previously Neutral on NOV, expects the company to benefit from rising oil field services capex, better pricing|fixed cost absorption and easing supply chains. NOV, formerly known as National Oilwell Varco, is a leading supplier of oil and gas drilling rig equipment and products, such as downhole tools, drill pipe, and well casing . See Also: How To Trade Nike Stock Before And After Q1 Earnings The company is set to become debt neutral by year-end 2023, and Mulvehill reported that he expects some … Full story available on Benzinga.com