MRC Global price target lowered to $16 from $17 at Loop Capital

Loop Capital lowered the firm’s price target on MRC Global (MRC) to $16 from $17 and keeps a Buy rating on the shares after its Q1 pre-announcement. The company forecast stronger-than-expected sales growth, with particular strength within the U.S. downstream market aided by robust turnaround activity and also supported by solid operating cash flow generation, though the firm has reduced its target price, reflecting the more risk-off environment, the analyst tells investors in a research note.