Wells Fargo Ups Target Range on Grainger (GWW) to $152-$154 Following Q1 Report
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9 Buy, 23 Hold, 4 Sell
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Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
9 Buy, 23 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Wells Fargo lifted its valuation range on shares of W.W. Grainger Inc. (NYSE: GWW) from $140-$142 to $152-$154 Monday following the company's Q1 results this morning. The firm reiterated a Market Perform rating.
Wells Fargo noted improved sales growth in 2011 was offset by more difficult comparisons and increased variable costs.
The firm boosted its 2011 and 2012 EPS estimates from $7.55 and $8.55 to $8.55 and $9.55, respectively.
Wells Fargo said, "In a normalized environment, GWW should continue to increase its revenue by 7% compounded through expanded product offerings, market presence, and customer coverage. Moreover, GWW's margin initiatives, notably increased global sourcing and supply chain initiatives should drive the distributor's improved operating margin performance."
To track all the market-moving analyst action on shares of Grainger, visit our Analyst Ratings page.
Wells Fargo noted improved sales growth in 2011 was offset by more difficult comparisons and increased variable costs.
The firm boosted its 2011 and 2012 EPS estimates from $7.55 and $8.55 to $8.55 and $9.55, respectively.
Wells Fargo said, "In a normalized environment, GWW should continue to increase its revenue by 7% compounded through expanded product offerings, market presence, and customer coverage. Moreover, GWW's margin initiatives, notably increased global sourcing and supply chain initiatives should drive the distributor's improved operating margin performance."
To track all the market-moving analyst action on shares of Grainger, visit our Analyst Ratings page.
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