Will This Price Target Cut Hurt National Oilwell Varco (NOV) Stock Today?

NEW YORK (TheStreet) -- National Oilwell Varco (NOV) stock has had its price target decreased to $96 from $101, Citi Research said Tuesday. The firm maintained a "buy" rating. 

Analysts lowered fiscal 2015 EPS estimates to $6.75 a share from $7.15 a share. EPS estimates for fiscal 2016 were lowered to $7.60 a share from $8 a share. 

"We have lowered our EPS estimates for 2015 and 2016 based on the likelihood of slower revenue growth (more land, less offshore) partially offset by a gradual improvement in rig tech operating margins," analysts wrote in the report.

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Separately, TheStreet Ratings team rates NATIONAL OILWELL VARCO INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

"We rate NATIONAL OILWELL VARCO INC (NOV) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

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