Grainger price target raised to $653 from $647 at Morgan Stanley

Morgan Stanley analyst Joshua Pokrzywinski raised the firm’s price target on Grainger to $653 from $647 and keeps an Underweight rating on the shares. Following the company’s quarterly report, the firm said it sees 2024 “as a year of limited EPS growth” as price/cost laps in the first half and competition “keeps outgrowth at or below target levels without compromising price.”