WW Grainger (GWW) PT Lowered to $975 at Loop Capital

Loop Capital analyst Chris Dankert lowered the price target on WW Grainger (NYSE: GWW) to $975.00 (from $1,000.00) while maintaining a Hold rating.

The analyst commented: "CY1Q EPS met consensus expectations, while incremental price actions (5/1) are expected to support rebounding price/cost through the remainder of the year. Aided by a solid start to the year, seasonality, and the aforementioned pricing gains GWW reiterated 2024 guidance metrics across the board which call for +7% EPS growth at the midpoint. While GWW continues to execute well, we see little room for error in the multiple re-rating narrative and as a result we are reiterating our ‘Hold’ rating and trimming our target price to $975 ($1,000 prior)."

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