Grainger price target lowered to $1,007 from $1,176 at RBC Capital

RBC Capital lowered the firm’s price target on Grainger (GWW) to $1,007 from $1,176 and keeps a Sector Perform rating on the shares after its Q2 earnings miss. The company’s modest operating miss and lower guidance was mostly attributed to Grainger’s LIFO inventory accounting treatment, which negatively impacted gross margins by 80 basis points from tariff cost inflation, the analyst tells investors in a research note. US industrial MRO – Maintenance, Repair, and Overhaul – demand and volumes were also a bit soft, the firm added.