KeyBanc Starts MRC Global (MRC) at Buy On Pipeline Prospects
Tweet
Share
E-mailGet Alerts MRC Hot Sheet
Price: $13.78 --0%
Rating Summary:
11 Buy, 14 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 5 | Down: 11 | New: 27
Rating Summary:
11 Buy, 14 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 5 | Down: 11 | New: 27
Join SI Premium – FREE
KeyBanc initiates coverage on MRC Global (NYSE: MRC) with a Buy rating and $29 price target.
"As a leading global distributor of pipe, valve and fitting supplies to the energy industry, we believe MRC is positioned to exhibit growth in excess of the broader distribution group for the next several years," the analyst comments.
The firm notes the emergence of unconventional shale plays in non-traditional locations has led to an increase in E&P activity and the subsequent demand for new pipeline infrastructure. Also, a drop in natural gas prices is leading to plans for new power generation and petrochemical facilities, supporting a modest boost to MRC's downstream business.
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 $23.76 yesterday.
"As a leading global distributor of pipe, valve and fitting supplies to the energy industry, we believe MRC is positioned to exhibit growth in excess of the broader distribution group for the next several years," the analyst comments.
The firm notes the emergence of unconventional shale plays in non-traditional locations has led to an increase in E&P activity and the subsequent demand for new pipeline infrastructure. Also, a drop in natural gas prices is leading to plans for new power generation and petrochemical facilities, supporting a modest boost to MRC's downstream business.
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 $23.76 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- KeyBanc Starts Phinia Inc. (PHIN) at Overweight
- Freedom Broker Starts AT&T (T) at Buy
- BofA Securities Resumes Williams-Sonoma (WSM) at Buy
Create E-mail Alert Related Categories
New CoverageRelated Entities
KeyBancSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
