Barclays Maintains an 'Overweight' on WESCO International (WCC); Expecting Deal Activity To Pick Up

June 11, 2012 3:23 PM EDT
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Price: $68.85 -1.5%

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Barclays maintains an 'Overweight' on WESCO International (NYSE: WCC) price target of $71.00.

Analyst, Scott R. Davis, attended a positive Investor Day meeting at WESCO's new Toronto Distribution Center (because Candanian business has gone from $500mln per year to $900mln per year.

Davis said, "As one of the more financially levered names within the group, WCC has a high beta in a risk-off environment. However, we like the long-term story and as long as this isn't the end of the cycle (as we think), the stock will come back. WCC is still in the early stages of recovery in some of its key end markets, including construction (~40% of sales) and utility (~10-15% of sales). WCC should also continue to gain market share from smaller, less well capitalized distributors. Company has room to do deals and buy back stock as well. WCC has been an active consolidator in the space and we expect deal activity will pick up from here."

For an analyst ratings summary and ratings history on WESCO International click here. For more ratings news on WESCO International click here.

Shares of WESCO International closed at $58.04 yesterday.

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