Grainger upgraded to Overweight from Equal Weight at Stephens

Stephens upgraded Grainger to Overweight from Equal Weight with a price target of $1,250, up from $1,000. The analyst, who would “like to have made this call in 2022 when strong execution amid inflationary, supply chain-constrained conditions accompanied an impressive beat/raise cycle,” now has sufficient conviction in Grainger’s pathway to premier industrial holding status, with a mid-teens total shareholder return projected.