KeyBanc Starts WESCO International (WCC) at Overweight

December 1, 2016 6:57 AM EST
Get Alerts WCC Hot Sheet
Price: $70.35 +1.01%

Rating Summary:
    12 Buy, 16 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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KeyBanc initiates coverage on WESCO International (NYSE: WCC) with an Overweight rating and a price target of $76.. Analyst Ryan Cieslak is positive on its industry position.

Cieslak explained, "We have a favorable view on WCC’s leading position within electrical supply distribution and extensive service capabilities, while its more balanced end market mix offers several cyclical and secular catalysts LT. Other considerations include significant share opportunities, enhanced operating leverage post recent cost actions, and emerging benefits from supply-chain initiatives, while its free cash supports a compelling M&A profile. While acknowledging ongoing end market uncertainty, we view downside earnings risk as limited and more than balanced by LT earnings potential, improving broader group sentiment, and relative valuation."

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 $67.90 yesterday.

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