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NOV

National Oilwell

$36.74

-0.12 (-0.33%)

06:43
10/03/16
10/03
06:43
10/03/16
06:43

National Oilwell downgraded to Sell from Neutral at Citi

Citi analyst Scott Gruber downgraded National Oilwell to Sell and cut his price target to $30 from $37 citing recent share strength and expectations estimates will fall materially in Q4 and 2017, compressing the multiple. Gruber reduced his already below Street estimates to reflect a lower bottom in active floating rig count and limited end market improvement.

NOV National Oilwell
$36.74

-0.12 (-0.33%)

04/27/16
04/27/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. JetBlue (JBLU) upgraded to Outperform at Cowen due to the belief that April will be the low point for unit revenue. Cowen cites expectations for slower capacity growth in the second half of 2016, an improved balance sheet and upside to the new credit card agreement. 2. National Oilwell (NOV) upgraded two notches to Overweight at Morgan Stanley by analyst Ole Sloreer, who said negative catalysts are played out with the dividend cut and Sete's bankruptcy filing. The analyst said lack of further negative catalysts, a strong balance sheet, and a trough in Q2 make National Oilwell a top contrarian pick. 3. LyondellBasell (LYB) upgraded to Buy at Nomura citing key commodity products of ethylene/polyethylene and key feedstock, ethane, are approaching peak conditions in 2016 as capacity conditions will outstrip demand. 4. Michael Kors (KORS) upgraded to Overweight at Piper Jaffray by analyst Erinn Murphy, who said she now believes the brand is "holding more stable footing on a global scale." She notes Piper's teen survey highlighted Kors as the top handbag brand and that peer Coach (COH) reported solid Q3 results. 5. Stryker (SYK) upgraded to Buy at Sterne Agee CRT with analyst Gregory Chodaczek saying it deserves a premium multiple given best in space fundamentals and near-term levers to expand margins and bolster sales growth. The analyst believes current valuation is too low given its diversified product portfolio and potential of beating his revenue and earnings estimates. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/04/16
SOCG
05/04/16
DOWNGRADE
SOCG
Sell
National Oilwell downgraded to Sell from Hold at Societe Generale
06/13/16
BOFA
06/13/16
INITIATION
Target $26
BOFA
Underperform
National Oilwell reinstated with an Underperform at BofA/Merrill
BofA/Merrill analyst Timna Tanners reinstated National Oilwell with an Underperform and $26 price target.
07/29/16
JRCO
07/29/16
UPGRADE
JRCO
Accumulate
National Oilwell upgraded to Accumulate from Hold at Johnson Rice

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