Stifel lowered the firm’s price target on MRC Global (MRC) to $16 from $17 and keeps a Buy rating on the shares. Q4 revenue and Q1 guidance came in materially below expectations, but management explained on the earnings call that daily order rates and backlog have improved materially during Q1 and that improvement in revenue is expected, above normal seasonality, to come in Q2, the analyst notes.
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