JPMorgan raised the firm’s price target on Grainger (GWW) to $1,050 from $1,035 and keeps a Neutral rating on the shares as part of a Q3 earnings preview for the electrical equipment and multi-industry sector. The firm is a “bit more cautious” in the near term on the group but says valuation setup “is now at least more attractive.” JPMorgan is “leaning more towards value plays with negative positioning” into the quarter.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GWW:
- Grainger initiated with an Underweight at Barclays
- Barclays starts Grainger at Underweight,sees limited earnings recovery potential
- Grainger’s Growth Prospects: Buy Rating Backed by Strategic Initiatives and AI Leverage
- Grainger price target lowered to $1,035 from $1,125 at JPMorgan
- Grainger management to meet with Oppenheimer