Grainger price target raised to $695 from $635 at UBS

UBS analyst Chris Snyder raised the firm’s price target on Grainger to $695 from $635 and keeps a Buy rating on the shares. The stock should continue to "re-rate" higher given the step-change in U.S. market outgrowth which significantly accelerates the organic growth profile of the business and the structural mix towards "Endless Assortment", which is a higher multiple business, the analyst tells investors in a research note.