WESCO International (WCC) PT Raised to $97 at RBC Capital on Debt Paydown

RBC Capital analyst Deane Dray raised the price target on WESCO International (NYSE: WCC) to $97.00 (from $79.00) while maintaining an Outperform rating.

Dray notes WESCO filed an 8-K on Dec-15 and noted that it is paying down $500 mil in debt in Jan-2021. The analyst said the move should save the company ~$20 mil in annual interest expense and be ~5%/~30c accretive to 2021 EPS by the firm's estimate.

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