Grainger downgraded to Peer Perform from Outperform at Wolfe Research

Wolfe Research analyst Nigel Coe downgraded Grainger to Peer Perform from Outperform without a price target. The analyst says the downgrade is based on valuation and adds that Grainger’s operating leverage risks "could be compounded by rising investment into a recession." He sees the stock’s risk/reward as balanced at current levels.