Bruce Jefferson
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Bruce Jefferson in Commodities,

NOW Is Not The Time To Buy This Oil Stock

Although oil company NOW Inc DNOW has contained costs well, its revenue growth has not materialized as quickly or as meaningfully as expected, according to Susquehanna Financial Group. 

Acquisitions, new customer relationships and sharp acceleration in U.S. rig count and well completions haven't solved the revenue growth problem, analyst Charles Minervino said in a Thursday note. 

Susquehanna downgraded NOW from Positive to Neutral and lowered its price target from $19 to $11.  Source


The price will try to break out the falling channel and form some upside. 

$DNOW, NOW Inc / D