Hudson Securities Upgrades Graco (GGG) to Buy; Vintage Graco Execution Evident in Impressive Q3
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Price: $64.36 +1.47%
Rating Summary:
2 Buy, 3 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Rating Summary:
2 Buy, 3 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Trade GGG Now!
Hudson Securities upgrades Graco (NYSE: GGG) from Neutral to Buy. Raising price target to $43 from $35
Hudson analyst says, "The new paint sprayer product looks to be a significant product launch and Graco clearly has momentum from new products heading into next year, which should be another active year in terms of new product launches. What is still in front of Graco, aside from new product strength, is a possible recovery in the company’s base business in Contractor and management sounded more optimistic about Contractor activity on the horizon (possibly starting in 1Q11) than it has in a while. Although gross margin may have crested at 55%, by segment there is still room for expansion across all segments but particularly in Lubrication. We are more confident in Graco’s top-line growth potential heading into next year and have raised our rating to Buy."
To see all the upgrades/downgrades on shares of GGG, visit our Analyst Ratings page.
Shares are currently at $34.74, up $0.23 (+0.93%) today.
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Hudson analyst says, "The new paint sprayer product looks to be a significant product launch and Graco clearly has momentum from new products heading into next year, which should be another active year in terms of new product launches. What is still in front of Graco, aside from new product strength, is a possible recovery in the company’s base business in Contractor and management sounded more optimistic about Contractor activity on the horizon (possibly starting in 1Q11) than it has in a while. Although gross margin may have crested at 55%, by segment there is still room for expansion across all segments but particularly in Lubrication. We are more confident in Graco’s top-line growth potential heading into next year and have raised our rating to Buy."
To see all the upgrades/downgrades on shares of GGG, visit our Analyst Ratings page.
Shares are currently at $34.74, up $0.23 (+0.93%) today.
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