Stifel Raises Price Target on Grainger (GWW) Ahead of Monthly Sales Results

Stifel reiterated a Buy rating on WW Grainger (NYSE: GWW), and raised the price target to $251.00 (from $238.00), ahead of the company's February Monthly Sales. Stifel expects some deterioration in the 2 year stack of U.S. sales for GWW, given February trends in industrial distribution appeared to slightly deteriorate after January’s rebound. GWW is scheduled to report on March 11, at 8am ET.

Analyst Robert McCarthy commented, "After FAST results last Friday, we would expect some deterioration in the 2 year stack of U.S. sales for GWW given February trends in industrial distribution appeared to slightly deteriorate after January’s rebound. Accordingly, we are adjusting our expectations for GWW U.S. sales to be up 0.3% to down 1%. That would imply a 2 year stack of 3.4% vs. 4.6% prior month for U.S. sales trends. That being said, even under this revised scenario, the 2 year stack would imply up 3% growth in the U.S., the top end of management’s guidance range; this would imply 5% growth vs. the current cons of 2.1% (we are modelling 3.1%). Such a growth implication would mean an estimated $0.30 upside to ’16 cons. and $0.60 to ’17 cons."

For an analyst ratings summary and ratings history on WW Grainger click here. For more ratings news on WW Grainger click here.

Shares of WW Grainger closed at $224.29 yesterday.

You May Also Be Interested In

• Tyler Tech (TYL) PT Raised to $500 at Oppenheimer
• Teradyne (TER) PT Raised to $125 at TD Cowen
• Sage Therapeutics (SAGE) PT Lowered to $18 at Truist Securities