| 2016-10-03 06:43:57|
NOV 06:43 10/03 10/03/16
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.