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MRC Global Launches Joint Venture for Smart Metering

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MRC Global Launches Joint Venture for Smart Metering

Confident Investing Starts Here:

The latest update is out from MRC Global ( (MRC) ).

MRC Global has announced a new joint venture, IMTEC, aimed at simplifying the procurement, programming, and installation of smart meters and Automated Meter Reading (AMR) technology. This venture is expected to mitigate risks for gas utilities by improving lead times and delivery, while also providing quality assurance through comprehensive inspection and meter proving. The joint venture is anticipated to enhance MRC Global’s market share in meter sales and further simplify the supply chain for gas utilities, potentially increasing its industry positioning and stakeholder value.

The most recent analyst rating on (MRC) stock is a Buy with a $16.00 price target. To see the full list of analyst forecasts on MRC Global stock, see the MRC Stock Forecast page.

Spark’s Take on MRC Stock

According to Spark, TipRanks’ AI Analyst, MRC is a Neutral.

MRC Global’s overall stock score reflects a blend of strong cash flow management and strategic corporate actions, tempered by high leverage and weak valuation metrics. The company’s initiatives to enhance revenue growth and financial strength are key positives, while high valuation and low profitability remain significant risks.

To see Spark’s full report on MRC stock, click here.

More about MRC Global

MRC Global is a leading global supply chain expert providing industrial products, services, and supply solutions. The company has a diversified portfolio with long-term growth drivers across various end-market sectors, including gas utilities, chemicals, refining, upstream and midstream oil & gas, LNG, data centers, mining, and energy transition. With over 100 years in business, MRC Global operates approximately 200 locations in 15 countries and offers a wide range of products such as flow-control equipment, gas meters, and polyethylene pipes.

Average Trading Volume: 785,741

Technical Sentiment Signal: Strong Buy

Current Market Cap: $1.1B

For detailed information about MRC stock, go to TipRanks’ Stock Analysis page.

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