NOV Inc. Price Targets Raised to $20 as Shares Jump Over 3%
BMO Capital and Barclays raised NOV Inc.'s price target to $20, with Barclays upgrading its rating from underweight to equal weight and RBC maintaining an outperform stance with a $21 objective. Susquehanna also increased its target from $17 to $20, propelling the shares to more than a 3% gain.
1. Analyst Upgrades and Price Targets
BMO Capital raised its price target for NOV Inc. from $19 to $20 while maintaining a Market Perform rating, and Barclays upgraded its rating from underweight to equal weight, matching its $20 target. Susquehanna increased its target from $17 to $20 with a positive rating, and RBC held an outperform view with a $21 objective, contrasted by Morgan Stanley and Goldman Sachs more conservative targets at $16 and $17 respectively.
2. Stock Price Reaction
Shares responded with a 3.67% surge, reaching an intraday high of $19.36 and trading between $18.24 and $19.09 before settling near $18.91 on the upgrade news.
3. Market Metrics and Trading Range
NOV Inc. has a 52-week trading range of $10.84 to $19.51 and a market capitalization of about $6.9 billion, with daily volume at 5,837,753 shares, highlighting strong investor interest.