NOV Inc. price target lowered to $20 from $22 at RBC Capital

RBC Capital analyst Keith Mackey lowered the firm’s price target on NOV Inc. (NOV) to $20 from $22 and keeps an Outperform rating on the shares as part of a broader research note on Oil & Gas Equipment & Services. The stocks in the group have oversold in recent weeks as tariff and macro concerns have taken hold, though while the firm had previously anticipated a modest recovery into 2026, it now sees that scenario as less likely, the analyst tells investors in a research note. The firm adds that it is leaning relatively defensive toward stocks with backlog coverage, exposure to natural gas- directed activity, free cash flow differentiation, and limited balance sheet leverage.