Imperial Capital Upgrades Anixter International (AXE) to Outperform
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Imperial Capital upgraded Anixter International (NYSE: AXE) from In-Line to Outperform with a price target of $72.00 (from $64.00).
Analyst Jeff Kessler commented, "Our price target is about 11% above the recent share price. We believe that the company is moving past the initial integration challenges, and is now improving its cross-selling capabilities, which supports our more positive view of the shares. One significant unknown that could impact the valuation is the macroeconomy, to which the company is highly sensitive."
Shares of Anixter International closed at $64.90 yesterday.
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