MRC Similar Chart Price Prediction
The price of MRC is predicted to go up -41.18%, based on the high correlation periods with EQT. The similarity of these two price pattern on the periods is 97.61%.
MRC
EQT
Down: -41.18%Similarity: 97.61%
MRC Revenue Forecast
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MRC Analyst's Forecast
Nathan Jones
Stifel
Strong Buy
2024-10-15
Price Target
$14 → $15
Upside
+17.83%
Stifel raised the firm's price target on MRC Global to $15 from $14 and keeps a Buy rating on the shares. The firm notes the company announced that it has agreed to repurchase all 363,000 shares of its 6.50% Series A Convertible Perpetual Preferred Stock for $361M. MRC expects to finance the repurchase with a new senior secured term loan B of $350M, and the company is pursuing an amendment to its ABL facility that would extend its term until 2029. MRC also reported preliminary Q3 results for revenue of $797M, adjusted EBITDA of $48M, and CFO of $95M, Stifel adds.
