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Fly News Breaks for November 8, 2016
MRC
Nov 8, 2016 | 06:10 EDT
Cowen analyst Vaibhav Vaishnav upgraded MRC Global to Outperform and raised its price target to $18 from $16 due to the recently signed Schlumberger's Cameron agreement to distribute engineered and distributed valve product lines. The analyst said the agreement is a positive for margin mix shift and countercyclical international growth in 2017 and sees 35% upside to 2017 consensus EBITDA estimates, $171M versus $128M.
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