MSC Industrial price target raised to $89 from $82 at Loop Capital

Loop Capital analyst Chris Dankert raised the firm’s price target on MSC Industrial to $89 from $82 but keeps a Hold rating on the shares after its Q2 earnings beat. The company continues to execute on its share capture initiatives, most notably "In-plant," and its current guidance for FY23 appears conservative given the first half contribution and the rate of sales growth into March, the analyst tells investors in a research note. Loop adds that while MSC’s exposure to short-cycle industrial markets will weigh on the multiple near-term, it is "warming to the set-up" for the stock into FY24.