Dnow initiated with a Buy at Texas Capital

Texas Capital analyst Matthew Key initiated coverage of Dnow (DNOW) with a Buy rating and $19 price target Dnow, in combination with MRC Global, is the largest global distributor of energy and industrial equipment such as pipes, valves, fittings and pumps for oil and gas, utilities and other industrial end markets, the analyst tells investors. The firm believe cost synergies and cross-selling opportunities should result in “solid” growth and cash flow generation in the coming years, the analyst added.