Grainger price target raised to $925 from $800 at Loop Capital

Loop Capital raised the firm’s price target on Grainger to $925 from $800 and keeps a Buy rating on the shares as part of a broader research note on Industrial Distribution names. Gross margin backdrop remains accommodative and supply chain pressures continue to ease for the group, the analyst tells investors in a research note. The stock’s multiple should also continue expanding, aided by the company’s impressive sales growth and gross margin execution, the firm added.