NOV Inc. price target raised to $22 from $21 at RBC Capital

RBC Capital analyst Keith Mackey raised the firm’s price target on NOV Inc. (NOV) to $22 from $21 and keeps a Sector Perform rating on the shares after its Q1 results. The company’s near-term outlook remains challenged, though a potential capital equipment cycle could drive significant earnings inflection for NOV over the medium term, the analyst tells investors in a research note.