Imperial Capital Upgrades Anixter International (AXE) to Outperform

October 27, 2016 6:14 AM EDT
Get Alerts AXE Hot Sheet
Price: $77.95 -2.56%

Rating Summary:
    3 Buy, 7 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 23 | Down: 34 | New: 34
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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."

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

Shares of Anixter International closed at $64.90 yesterday.

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