J.P. Morgan Remains Confident In National Oilwell Varco Rating

J.P. Morgan is raising its price target on National Oilwell Varco, Inc. NOV, which remains its top pick. “We raised our NOV price target to $65 as the stock is trading a full 56% below fair value on normalized EBITDA,” J.P. Morgan writes. “We expect considerable acquisition talk and action within capital equipment as many companies in both this sector and the industrial sector look to increase share in key markets.” National Oilwell Varco currently trades at $55.47.