Graco price target raised to $75 from $66 at Baird

Baird analyst Michael Halloran raised the firm’s price target on Graco to $75 from $66 and keeps a Neutral rating on the shares. The analyst said guidance calls for LSD organic growth, which we suspect is a fair starting point given backlog and current visibility. That said, we have reservations about Graco’s end markets in 2H 2023..