UPDATE: Raymond James Upgrades WW Grainger (GWW) to Outperform
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Raymond James analyst Sam Darkatsh upgraded WW Grainger (NYSE: GWW) from Market Perform to Outperform with a price target of $460.00.
The analyst comments "Our prior thesis was predicated on Grainger posting higher sales growth and margin expansion vs. peers (namely Fastenal). While Grainger's comps continue to be quite healthy (both in absolute and relative terms), its pricing is increasingly not keeping up with inflationary pressures. When combined with a valuation that is still somewhat stretched compared to its own history, we choose to take our foot off the pedal for the time being."
Shares of WW Grainger closed at $444.58 yesterday.
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