Ferguson price target raised to $275 from $250 at Wells Fargo

Wells Fargo analyst Sam Reid raised the firm’s price target on Ferguson (FERG) to $275 from $250 and keeps an Overweight rating on the shares. The firm said it was not constructive into Q4, and that was misplaced in hindsight. Ferguson delivered solid Q4 results but, more importantly, demonstrated the strength of its moat-like business and capacity for ongoing share gains, the analyst tells investors in a research note.