Dahlman Rose Sees 29% Upside In National Oilwell Varco (NOV)

Dahlman Rose & Co. has a Buy rating and a $104 price target on shares of National Oilwell Varco NOV after it reported earnings. In a note to clients, Dahlman Rose writes, "National Oilwell Varco reported earnings of $0.96 per share, versus our estimate of $1.01 per share and a $1.00 per share consensus. Earnings included a $0.04 charge related to Libya asset write downs and the APL acquisition. Orders in the quarter surged to $2.28 billion, above our $2.2 billion estimate and the $1.4 billion of the prior quarter." Shares of NOV are off $3.58 to $77.02, a loss of 4.44%.