NOV Inc. price target raised to $18 from $17 at Piper Sandler

Piper Sandler analyst Derek Podhaizer raised the firm’s price target on NOV Inc. (NOV) to $18 from $17 and keeps a Neutral rating on the shares following quarterly results. A number of puts and takes across NAM, International, and Offshore is leading to a flattish 2025 environment for NOV. The ongoing offshore drilling white space is expected to negatively impact both aftermarket and capital equipment, resulting in Energy Equipment topline to decline low single digits year-over-year and book-to-bill to step back closer to 1-turns vs. 1.2-turns in 2024, Piper adds.