Innovex price target lowered to $15 from $21 at Barclays

Barclays lowered the firm’s price target on Innovex (INVX) to $15 from $21 and keeps an Underweight rating on the shares. The company when reporting earnings emphasized a capital-light, high return on equity strategy, but the challenge will be growing revenue while integrating Dril-Quip in a consolidated, integrated subsea industry, the analyst tells investors in a research note. The firm sees limited near-term share upside.