UBS Cuts Price Target to $210 on Grainger (GWW) Following 3c EPS Miss
UBS maintained a Neutral rating on WW Grainger (NYSE: GWW), and cut the price target to $210.00 (from $225.00), following the company's 3Q15 earnings report. Grainger posted 3Q15 adjusted EPS of $3.03 vs. consensus estimate of $3.06.
Analyst Shannon O'Callaghan commented, "Grainger posted 3Q15 adjusted EPS of $3.03 vs. our $3.16 estimate and consensus $3.06 driven by a $0.08 miss at the segment level (-$0.02 U.S.; -$0.03 Canada; -$0.01 Other Businesses; -$0.02 unallocated expense). Organic revenues were flat vs. our +1.5% estimate and down from +3% in 2Q, while pricing remains difficult (-1% vs. -1% in 2Q). October sales ex-Cromwell are tracking down MSD."
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Shares of WW Grainger closed at $207.65 yesterday.