NEW YORK (TheStreet) -- Barclays initiated coverage on NOW Inc.  (DNOW) - Get Report with an "equal weight" rating and set a $33 price target. The firm noted the company offers leverage to the upcycle in capital spending in the industry.

The stock closed at $33 on Monday.

Must Read: Warren Buffett's 25 Favorite Stocks

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Image placeholder title

DNOW data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.