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Fly News Breaks for April 16, 2019
Apr 16, 2019 | 07:03 EDT
SunTrust analyst Ken Sill lowered his price target on National Oilwell to $24 and kept his Hold rating after its below-consensus Q1 pre-announcement. The analyst states however that while he expects the management's outlook on its April 26th earnings call to be "cautious", he also believes that "most of the damage from the earnings miss has already been incurred." Sill adds that National Oilwell is typically a "late cycle play", stating that the company's "activity in North America is bottoming, while international activity, as measure by the rig count, has been better than expected".
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