Shares of Now Inc. Are Up Big Today -- Here's Why
Shares of oil and gas equipment supplier and supply chain manager Now Inc. (NYSE: DNOW) rose as much as 12.6% today and were up 5.9% as of 1 p.m. EDT. The big move comes after analysts at Stifel upgraded the stock's rating to buy and increased its price target to $12.
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According to the accompanying report from Stifel, the analysts believe that spending in the oil and gas patch is expected to increase in the coming quarters and should put the wind in Now Inc.'s sails. That will be welcome as revenue has been hit hard by several down years in the oil patch since it went public in 2014.
Source Fool.com
