Baird analyst David Manthey upgrades $W.W. Grainger (GWW.US)$ to a buy rating, and adjusts the target price from $975 to $1,230.
According to TipRanks data, the analyst has a success rate of 67.9% and a total average return of 16.8% over the past year.
Furthermore, according to the comprehensive report, the opinions of $W.W. Grainger (GWW.US)$'s main analysts recently are as follows:
The company has now received appropriate market acknowledgment for the robustness of its assets, supply chain efficiency, data analytical capabilities, enhanced pricing algorithms, and demand creation efforts. It is suggested that Grainger's present valuation may require examination and stabilization at the current point in time.
Enthusiasm is growing for the industrial distribution sector's prospects into the third quarter report, with expectations of benefiting from rate cuts and burgeoning end markets in the years ahead. The perspective on this sector is increasingly pro-cyclical, with particular acknowledgment of Grainger's potential to capitalize on rate cuts and its ability to secure market share gains.
Note:
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