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

Stifel lowered the firm’s price target on NOV Inc. (NOV) to $20 from $22 and keeps a Buy rating on the shares. The combination of tariffs and macro headwinds that weighed on Q2 results is likely to continue over at least the next few quarters, says the analyst, who lowered estimates. However, second half expectations are “still solid” and the firm expects the company to generate “solid” free cash flow and return at least 50% of excess FCF to shareholders, the analyst added.