Grainger price target raised to $1,056 from $907 at RBC Capital

RBC Capital raised the firm’s price target on Grainger (GWW) to $1,056 from $907 and keeps a Sector Perform rating on the shares. Grainger has seen the most multiple and second most gross margin compression of any Multi-Industry company in the past 10 years as e-commerce upended its legacy branch-centric model, but the Amazon (AMZN) threat has not derailed Grainger’s earnings and growth trajectory, the analyst tells investors in a research note.