CDW price target raised to $250 from $215 at Evercore ISI

Evercore ISI raised the firm’s price target on CDW to $250 from $215 and keeps an Outperform rating on the shares. The firm calls CDW “one of the most consistent traditional IT hardware vendors” and thinks CDW remains well positioned to drive mid/high single digit sales and low teens EPS growth in a consistent manner over several years despite the pre-announcement earlier this year. Given this view, the firm thinks CDW deserves a higher multiple going forward in light of “their ability to navigate an uneven macro environment.”