RBC Capital analyst Deane Dray lowered the firm’s price target on Graco (GGG) to $95 from $101 and keeps an Outperform rating on the shares. The company reported an operating miss with an underwhelming 6% organic sales decline, the analyst tells investors in a research note. The main culprits were ongoing residential weakness and a new development with project delays in Industrial powder finishing, the firm added.
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