Pritchard Reiterates Buy Rating On National Oilwell Varco

According to Pritchard, National Oilwell Varco NOV Buy rating is reiterated. Pritchard said that it believes the higher volumes of business going on the books now will flow through the income statement at higher margins – in 2012 – than itprojected previously. "NOV reported eps of $1.14, including the positive impact of a revision in certain manufacturing margins, versus PCP's estimate of $1.08 and consensus of $1.00." National Oilwell Varco closed yesterday at $82.31.