Grainger price target lowered to $975 from $1,000 at Loop Capital

Loop Capital analyst Chris Dankert lowered the firm’s price target on Grainger to $975 from $1,000 and keeps a Hold rating on the shares. The company met consensus expectations, while its incremental price actions are expected to support rebounding price/cost through the remainder of the year, the analyst tells investors in a research note. The firm adds however that while Grainger continues to execute well, there is little room for error in the stock’s multiple re-rating narrative.