Barclays Maintains an 'Equalweight' on WW Grainger (GWW); Growth and Margin Initiatives Could Pay Off

Barclays maintains an 'Equalweight' on WW Grainger (NYSE: GWW), raises PT from $130 to $145.

Barclays analyst says, "We are raising our estimates and PT for GWW as we gain more confidence around the company's growth initiatives and margin expansion efforts: Following recent meetings with GWW, we walked away more convinced that the company's growth initiatives centered around e-commerce, product line expansion, increased sales force, international expansion and service offerings could lead to growth ahead of its market. Additionally, management's efforts to increase gross margin and lower SG&A expense as a percent of sales could lead to 50bps of annual margin improvement." (FY11 EPS estimate increased from $7.80 to $8.00 and FY12 from $8.65 to $9.00)

For more ratings news on WW Grainger click here and for the rating history of WW Grainger click here.

Shares of WW Grainger closed at $135.91 yesterday.

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