KeyBanc Upgrades WESCO International (WCC) to Buy; Incremental Confidence in Solid Execution Story
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Price: $361.55 +0.60%
Rating Summary:
22 Buy, 8 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
22 Buy, 8 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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KeyBanc upgraded WESCO International (NYSE: WCC) to Buy with a price target of $48.00.
KeyBanc analyst says, "We are upgrading WCC shares as we are incrementally more confident in the Company's ability to execute on its strategic initiatives detailed in the Company's analyst day earlier this week. In addition, we believe the recent weakness in the shares (WCC -34% since reporting solid earnings on July 21, 2011 vs. S&P 500 -16.6%) provides investors an attractive entry point as we get the sense demand trends into 3Q11 are healthy and the outlook for FY12 remains favorable. While we are cautious on the recent downtrend in several macro indices in the United States, we expect the Company's recent track record of taking share and out-pacing general market growth will continue even in the case of a decline in overall demand."
For more ratings news on WESCO International click here and for the rating history of WESCO International click here.
Shares of WESCO International closed at $36.65 yesterday.
KeyBanc analyst says, "We are upgrading WCC shares as we are incrementally more confident in the Company's ability to execute on its strategic initiatives detailed in the Company's analyst day earlier this week. In addition, we believe the recent weakness in the shares (WCC -34% since reporting solid earnings on July 21, 2011 vs. S&P 500 -16.6%) provides investors an attractive entry point as we get the sense demand trends into 3Q11 are healthy and the outlook for FY12 remains favorable. While we are cautious on the recent downtrend in several macro indices in the United States, we expect the Company's recent track record of taking share and out-pacing general market growth will continue even in the case of a decline in overall demand."
For more ratings news on WESCO International click here and for the rating history of WESCO International click here.
Shares of WESCO International closed at $36.65 yesterday.
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