UPDATE: Stifel Initiates Coverage On W W Grainger On Solid Potential Upside

In a report published Friday, Stifel analyst Robert McCarthy initiated coverage on

with a Buy rating and $309.00 price target. In the report, Stifel noted, “We are initiating coverage of W.W. Grainger, Inc. (GWW) with a Buy rating on the shares and a 12-month target price of $309, indicating 27% potential upside. This is based on GWW trading at 20x our 2016E EPS of $15.45.” W W Grainger closed on Thursday at $242.65.