Skip to main content

Market Overview

UPDATE: Goldman Sachs Downgrades W.W. Grainger

Share:

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

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

View More Analyst Ratings for GWW
View the Latest Analyst Ratings

 

Related Articles (GWW)

View Comments and Join the Discussion!

Posted-In: Goldman SachsAnalyst Color Downgrades Price Target Analyst Ratings

Latest Ratings

StockFirmActionPT
AGCOCredit SuisseMaintains142.0
COSTOppenheimerMaintains350.0
COOBairdMaintains384.0
AMGNBarclaysMaintains230.0
BURLDeutsche BankMaintains320.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com