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UPDATE: Morgan Stanley Starts W.W. Grainger at Overweight, Sets $296 Target

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In a report issued Tuesday, May 13th, Morgan Stanley initiated coverage on W.W. Grainger Inc. (NYSE: GWW) with an Overweight rating and a target price of $296.

A team of analysts at Morgan Stanley led by Nigel Coe expect W.W. Grainger's best-in-class returns and margins to leave the company as a “levered play on the U.S. manufacturing recovery.”

Coe sees the current valuation of the company as an “attractive entry point” with much optimism towards a potential 16 percent return.

With Grainger shares last trading at $253.23, down about 0.5 percent from Monday's close, Morgan Stanley's new price target implies potential upside of about 17 percent.

Latest Ratings for GWW

DateFirmActionFromTo
Jul 2016BarclaysMaintainsEqualweight
Jun 2016Credit SuisseInitiates Coverage onNeutral
Apr 2016BarclaysMaintainsEqual-weight

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Posted-In: Analyst Color News Price Target Initiation Analyst Ratings

 

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