Wells Fargo Starts MRC Global (MRC) at Outperform; Well Positioned to Capitalize From Favorable Trends
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Price: $11.70 +0.52%
Rating Summary:
12 Buy, 12 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 17 | Down: 14 | New: 17
Rating Summary:
12 Buy, 12 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 17 | Down: 14 | New: 17
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Wells Fargo initiates coverage on MRC Global (NYSE: MRC) with an Outperform. PT range $24-26.
Analyst, Allison Poliniak-Cusic, said, "We are favorable on MRC's position as the leading supplier of pipes, valves, and fittings (PVF) to the high-growth energy industry, which should enable the distributor to achieve high-single-digit core revenue growth through 2013, we estimate. Ongoing favorable core growth trends (35pp in Q1), increased productivity (on track, we believe, to reach a 10% adjusted EBITDA margin in five years; 8.3% in Q1), and its successful and ongoing acquisition program could continue to act as catalysts for stock performance. We initiate 2012 and 2013 EPS estimates of $1.60 and $1.95, respectively."
For an analyst ratings summary and ratings history on MRC Global click here. For more ratings news on MRC Global click here.
Shares of MRC Global closed at $20.46 yesterday.
Analyst, Allison Poliniak-Cusic, said, "We are favorable on MRC's position as the leading supplier of pipes, valves, and fittings (PVF) to the high-growth energy industry, which should enable the distributor to achieve high-single-digit core revenue growth through 2013, we estimate. Ongoing favorable core growth trends (35pp in Q1), increased productivity (on track, we believe, to reach a 10% adjusted EBITDA margin in five years; 8.3% in Q1), and its successful and ongoing acquisition program could continue to act as catalysts for stock performance. We initiate 2012 and 2013 EPS estimates of $1.60 and $1.95, respectively."
For an analyst ratings summary and ratings history on MRC Global click here. For more ratings news on MRC Global click here.
Shares of MRC Global closed at $20.46 yesterday.
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