UPDATE: Citigroup Reiterates Buy Rating, Raises PT on WESCO International

In a report published Wednesday, Citigroup reiterated its Buy rating on WESCO International

, and raised its price target from $67.00 to $72.00. Citigroup noted, “We are increasing our target price from $67 to $72 to reflect our shift in our sector valuation. We continue to assume the small-cap MI-EE group should trade for 13.0x EPS, but are now applying this to our 2013 EPS estimates instead of the blend of 2012/2013 that we used previously. Our WCC target continues to assume the shares trade inline with our target group multiple, at the high-end of its (30%) to 0% historical relative range.” WESCO International closed on Tuesday at $58.33.