Jefferies downgraded Grainger to Hold from Buy with an unchanged price target of $825. The industrial economy powered through 2023 with strong earnings and solid order trends, but for 2024, “multiples may prove more important than earnings,” says the analyst. Grainger has executed on strong growth and margin expansion and “gotten paid in multiple expansion,” the analyst tells investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on GWW:
- Grainger Announces Agreement to Sell E&R Industrial Sales, Inc.
- Grainger sells E&R Industrial Sales to Paradigm Equity Partners, no terms
- Grainger price target lowered to $800 from $880 at Loop Capital
- Grainger price target raised to $800 from $793 at RBC Capital
- GRAINGER REPORTS RESULTS FOR THE THIRD QUARTER 2023