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Fly News Breaks for February 10, 2020
MRC
Feb 10, 2020 | 07:50 EDT
Raymond James analyst Sam Darkatsh downgraded MRC Global to Market Perform from Outperform. Darkatsh tells investors in a research note that his energy team's change to forecasting rig count based on strip prices vs. internal oil price estimates is a material negative variance vs. his prior model, and his resultant estimates now approximate consensus at best. Near-term, the analyst says he fails to see near-term catalysts that would enable MRC to outperform the market.
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