JPMorgan upgrades ‘turnaround story’ MSC Industrial to Overweight

JPMorgan analyst Patrick Baumann upgraded MSC Industrial (MSM) to Overweight from Neutral with a price target of $89, up from $73. The firm updated December 2025 U.S. distributor price targets to reflect an increased group multiple. MSC Industrial is a “turnaround story where growth has been a challenge.” JPMorgan sees potential support coming from tariff-driven price along with short cycle industrial end markets “that have appeared to remain stable on net. These go along with MSC’s ongoing traction in solutions based sales and self-help around productivity initiatives, contends the firm. The analyst sees an attractive relative valuation on the company’s free cash flow and “sector best” 4% dividend yield.