Innovex International (INVX) Price Target Increased by $7, ‘Overweight’ Rating Maintained

Innovex International, Inc. (NYSE:INVX) is included among the 11 Best Performing Energy Stocks in 2025.

Innovex International (INVX) Price Target Increased by $7, 'Overweight' Rating Maintained

Established in 2024 following the merger of Dril-Quip and Innovex Downhole Solutions, Innovex International, Inc. (NYSE:INVX) designs and manufactures offshore drilling and production equipment.

Innovex International, Inc. (NYSE:INVX) received a boost on December 18 when Piper Sandler raised its price target on the stock from $20 to $27, while maintaining its ‘Overweight’ rating on the shares. The revised target indicates an upside potential of more than 22% relative to the current share price.

The analyst acknowledges that while the energy industry had a challenging year in 2025, it exhibited tenacity and found new growth avenues. While Piper Sandler remains selective in 2026, it expects various tailwinds to begin to mount, including Saudi Arabia/Mexico returning to work and a bottoming land market in the US. Meanwhile, the analyst expects a recovery in the offshore sector in 2027.

While Innovex International, Inc. (NYSE:INVX) has reported mixed results so far this year, the company continues to demonstrate resilience and grow its market share in the US Land market after successfully integrating Citadel and outperforming relatively flat land activity. Moreover, Innovex’s capital-light business model and disciplined cost control have allowed it to maintain a strong free cash flow. In fact, the energy firm reported an 82% YoY growth in free cash flow in Q3 2025.

As a result, investors have continued to support Innovex International, Inc. (NYSE:INVX), pushing its share price to jump by 52.38% since the beginning of 2025.

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Disclosure: None.