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Fly News Breaks for July 31, 2019
NOV
Jul 31, 2019 | 06:32 EDT
Citi analyst Scott Gruber upgraded National Oilwell Varco to Buy from Neutral and raised his price target for the shares to $28 from $23. Following the company's Q2 results, the analyst sees "more room" for the shares to run on its free cash flow potential. He increased his EBITDA estimates for both 2019 and 2020 based on "strong" Q2 bookings. Gruber believes National Oilwell offers a quality blend of offensive and defensive characteristics.
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