DNOW upgraded at Susquehanna as MRC acquisition opens new chapter

Susquehanna upgraded DNOW to Positive with a $16 target, citing its enhanced position post-MRC Global acquisition. The deal broadens DNOW's offerings, increases growth opportunities, and strengthens its balance sheet for further M&A. The combined entity will operate over 350 locations in 20+ countries, expecting $70M in cost synergies within three years. Analyst Charles Minervino highlights DNOW's experienced management and sees an attractive entry point at ~6x FY 2026 pro forma EBITDA.