UPDATE: Citi Raises PT on W.W. Grainger to $159

Citi is out with its report today on W.W. Grainger

, raising its PT from $155 to $159. In a note to clients, Citi writes, "We are raising our 2Q11 EPS estimate from $2.02 to $2.12 to incorporate the higher trending daily sales reported in April, May, and projected for June. This increases our 2011 estimate by 10c to $8.65. Current 2011 guidance is $8.10-$8.60. As a result of our estimate changes, we are increasing our target price by $4 to $159." Shares of GWW closed Wednesday at $158.75.