Grainger price target raised to $1,350 from $1,300 at Oppenheimer

Oppenheimer raised the firm’s price target on Grainger (GWW) to $1,350 from $1,300 and keeps an Outperform rating on the shares. The firm notes the company delivered a muscular Q1 beat on sales/gross margin. Oppenheimer notes that Grainger has built robust analytics and planning around 80-plus GP line items, and the firm continues to expect gross margin resilience.