Oppenheimer Upgrades WW Grainger (GWW) to Outperform, Positively Revises EPS Estimates
Oppenheimer upgraded WW Grainger (NYSE: GWW) from Perform to Outperform with a price target of $245.00.
Analyst Chris Glynn is betting the immediate and transparently robust demand following the company's pricing reset reflects a sustainable price level for the stock. The analyst further comments "Medium-customer demand response outpaced large non-contract, potentially reflecting simply a more nimble demographic. We expect the response improves from here, as digital marketing strategies ramp and facilitate demand response, and note institutional success with digital strategies at GWW."
The PT represents 18.5 multiple on 2019 estimate EPS.
FY 2017 EPS estimate rises from $10.45 to $10.65, FY 2018 EPS estimate rises from $11.00 to $11.35 and FY 2019 EPS estimate is for $13.35.
For an analyst ratings summary and ratings history on WW Grainger click here. For more ratings news on WW Grainger click here.
Shares of WW Grainger closed at $205.42 yesterday.