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UPDATE: Goldman Sachs Downgrades W.W. Grainger


In a report issued Tuesday, Goldman Sachs Downgraded W.W. Grainger (NYSE: GWW) to Sell from Neutral and lowered the price target to $232 from $250.

Goldman Sachs' Joe Ritchie noted, "Over the last 3 months, GWW has under-performed our coverage by about 1,100 basis points due to disappointing guidance issued in November and a weak 4th quarter reported in January." Ritchie also noted that Grainger will have to deal with limited flexibility due to capital expenditure investments and conservatism.

Looking to the future, Ritchie may become more positive if: (1) pricing trends improve; (2) GM pulls through from initiative spending surprises; (3) mix towards small/medium sized customers improves; and (4) the overall growth environment turns more negative, supporting a higher relative multiple for Grainger.

At last check, Grainger was trading up approximately 2 percent at $238.71

Latest Ratings for GWW

Mar 2021OppenheimerMaintainsOutperform
Feb 2021Morgan StanleyMaintainsEqual-Weight
Feb 2021Deutsche BankMaintainsHold

View More Analyst Ratings for GWW
View the Latest Analyst Ratings


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