Ferguson initiated with an Equal Weight at Wells Fargo

Wells Fargo initiated coverage of Ferguson with an Equal Weight rating and $175 price target. Ferguson is a “best-in-class distributor,” with a mix of very attractive residential and commercial end markets, the analyst tells investors in a research note. The firm likes the stock, but is neutral following the market’s “upbeat response” to the fiscal Q4 earnings report as it sees few near-term catalysts.