Citi Initiates Coverage of Innovex International (INVX) with a Buy Rating

On May 6, 2026, Citi initiated sum of Innovex International, Inc. (NYSE:INVX) with a Buy standing and a $35 terms target. The steadfast said it views the institution favorably owed to its little cyclicality and robust escaped currency travel conversion comparative to oilfield work peers, portion besides believing Innovex tin proceed gaining marketplace stock crossed its extremity markets.

On May 4, 2026, Innovex International, Inc. (NYSE:INVX) reported Q1 gross of $239M, down 1% twelvemonth implicit year. CEO Adam Anderson said the institution delivered a beardown commencement to 2026, with some gross and adjusted EBITDA exceeding the precocious extremity of guidance. Anderson said results benefited from operational execution, caller merchandise launches, cross-selling activity, favorable merchandise mix, and earlier-than-expected gains from the exit of the bequest Eldridge facility. Anderson added that the 4th reinforced management’s presumption that the company’s subsea businesses tin make margins supra 20% nether its capital-light operating model.

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The institution besides said it completed the acquisition of DIS during the quarter, adding accumulation technologies that complement its portfolio and fortify its offshore U.S. marketplace position. Anderson added that Innovex continues gaining stock done innovation, work quality, and the standard of its integrated platform, which absorption believes supports durable and profitable growth.

Innovex International, Inc. (NYSE:INVX) expects Q2 gross of $235M-$245M and adjusted EBITDA of $43M-$48M.

Innovex International, Inc. (NYSE:INVX) designs, manufactures, sells, and rents engineered products for the lipid and earthy state manufacture globally.

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