NOV Inc. price target raised to $19 from $17 at RBC Capital

RBC Capital raised the firm’s price target on NOV Inc. (NOV) to $19 from $17 and keeps an Outperform rating on the shares. The company’s Q3 EBITDA topped estimates and the firm remains constructive on the shares given its backlog-based Energy Equipment exposure, solid free cash flow, and broad exposure to future drivers of E&P spending, the analyst tells investors in a research note.