Ferguson price target raised to $222 from $205 at Baird

Baird analyst David Manthey raised the firm’s price target on Ferguson to $222 from $205 and keeps an Outperform rating on the shares. The firm said they reported January-quarter results that were just modestly below expectations; however, momentum continues to improve in February as comps ease, as expected. Management also maintained full-year guidance, implying that this quarter’s slightly softer results did not materially change the outlook.