Loading...
Loading...
Oppenheimer raised its rating on WW Grainger
GWW from Perform to Outperform and reduced its price target from $225 to $220 following the company's Annual Analyst Meeting.
Oppenheimer commented, "EPS guidance of $10.85-12.00 compared to $12.05 consensus, and includes a mild recession at the low end. We believe guidance overall takes a conservative approach, and on the recent pullback, we are upgrading to Outperform based on (1) long-term US and global market share runway and solid margin drivers, (2) our expectation of defensive financial characteristics, given risky macro (while retaining strong cyclical leverage), and (3) expectation that pace of share gain (which has ebbed) will re-accelerate at some point as management tweaks the various approaches to growing market share."
WW Grainger closed at $187.08 on Thursday.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in