Innovex International, Inc

Innovex International reported a higher second-quarter profit. Net income rose to $25.03 million, or $0.36 per share, from $15.35 million, or $0.22 per share, in the same period last year. Revenue increased 9.2% to $244.90 million from $224.23 million a year earlier. The company issued next-quarter revenue guidance of $260 million to $270 million.

Jefferies initiated coverage of Innovex International with a Buy rating and a price target of $34 on June 8. The firm cited expectations for margin improvement starting in the second half of 2026, driven by self-help initiatives and the roll-off of low-margin subsea backlog. Jefferies also highlighted benefits from the OneSubsea alliance ramp, a constructive long-cycle offshore backdrop, and continued commercial momentum. Piper Sandler had previously raised its price target on the stock to $34 from $33 on May 18, maintaining an Overweight rating.