Baird raised the firm’s price target on Grainger to $995 from $880 and keeps an Outperform rating on the shares. The firm said they reported solid 4Q23 results despite slightly softer-than-expected sales. Initial 2024 guidance bracketed expectations but could be conservative.
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Read More on GWW:
- GRAINGER REPORTS RESULTS FOR THE FOURTH QUARTER AND FULL YEAR 2023
- Grainger sees FY24 daily, organic cc sales growth 4%-7%
- Grainger sees FY24 EPS $38.00-$40.50, consensus $38.65
- Grainger reports Q4 adjusted EPS $8.33, consensus $8.05
- Grainger plans to open new distribution center near Houston in 2026
