Susquehanna analyst Charles Minervino has reiterated their bullish stance on MRC stock, giving a Buy rating today.
Charles Minervino has given his Buy rating due to a combination of factors including MRC Global’s growth prospects and market opportunities. Despite a slight decrease in the fourth quarter EBITDA, Minervino sees potential in the company’s future, particularly with improving fundamentals in the gas utility sector and opportunities arising from product price inflation.
Additionally, the outlook for natural gas midstream spending appears favorable, which supports the positive rating. Although the price target has been adjusted from $17 to $15 due to broader market valuation concerns and recent crude price declines, the overall growth opportunities and market conditions justify the Buy rating.
In another report released today, Stifel Nicolaus also maintained a Buy rating on the stock with a $16.00 price target.
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