NOV Inc. upgraded to Outperform from Sector Perform at RBC Capital

RBC Capital analyst Keith Mackey upgraded NOV Inc. (NOV) to Outperform from Sector Perform with a $22 price target The firm believes the company’s EBITDA growth, free cash flow conversion, and free cash flow returns to shareholders continue to improve on a relative basis. For 2025, RBC now expects NOV to generate above-average EBITDA growth. It has increased its stock buyback assumption to about 5%-6% of outstanding shares. As such, the shares are “looking better” at current levels, the analyst tells investors in a research note.