In a report published Friday, Jefferies & Company reiterated its Hold rating on MSC Industrial Direct Co. MSM, but lowered its price target from $81.00 to $79.00.
Jefferies noted, “Further to our ‘Initial Take' note we are lowering our EPS forecasts due to a reduced sales growth outlook from currently sluggish industrial conditions. We consider MSM fairly valued despite its correction on 1/10/13.”
MSC Industrial Direct Co. closed on Thursday at $73.65.
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