Graco price target raised to $100 from $90 at Jefferies

Jefferies raised the firm’s price target on Graco to $100 from $90 and keeps a Buy rating on the shares. Graco is about 50% levered to construction markets and while the Contractor segment has declined the last two quarters, the firm sees an opportunity to rebound in 2024 with tailwinds from a recovering housing market. Positive pricing should also aid growth into 2024, the analyst tells investors.