Imperial Capital reiterated an In-Line rating on Anixter International (NYSE: AXE), and raised the price target to $64.00 (from $60.00), following 2Q report. Anixter reported 2Q16 revenue of $1.96bn, consistent with Street estimates. Adjusted EPS of $1.32 was also consistent with consensus.

Analyst Jeff Kessler commented, "We are maintaining our In-Line rating, but raising our one-year price target to $64 from $60 on AXE shares. Our price target is about 6% above the recent share price. We believe that the company is moving past the initial integration challenges, and is now starting to improve its cross-selling capabilities. We also believe that over the next several quarters, oil and gas, and the industrial projects slowdown could continue to ease and improve the growth prospects for Anixter."

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Shares of Anixter International closed at $60.23 yesterday.