Baird analyst David Manthey upgrades $W.W. Grainger (GWW.US)$ to a buy rating, and adjusts the target price from $975 to $1,230.
According to TipRanks data, the analyst has a success rate of 67.9% and a total average return of 16.8% over the past year.
Furthermore, according to the comprehensive report, the opinions of $W.W. Grainger (GWW.US)$'s main analysts recently are as follows:
The company has now received appropriate market acknowledgment for the robustness of its assets, supply chain efficiency, data analytical capabilities, enhanced pricing algorithms, and demand creation efforts. It is suggested that Grainger's present valuation may require examination and stabilization at the current point in time.
Enthusiasm is growing for the industrial distribution sector's prospects into the third quarter report, with expectations of benefiting from rate cuts and burgeoning end markets in the years ahead. The perspective on this sector is increasingly pro-cyclical, with particular acknowledgment of Grainger's potential to capitalize on rate cuts and its ability to secure market share gains.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
