Barclays initiated coverage of Grainger (GWW) with an Underweight rating and $963 price target The company has consistently gained share in the U.S. MRO – maintenance, repair and operations – makert for the past five years, but MRO is not a market the firm favors, the analyst tells investors in a research note. Grainger’s end-market MRO market mix also appears relatively unexciting, given exposure to government (15%), commercial services (8%), and healthcare (6%), the firm added.
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