tiprankstipranks

Wesco price target lowered to $205 from $245 at KeyBanc

Wesco price target lowered to $205 from $245 at KeyBanc

KeyBanc lowered the firm’s price target on Wesco (WCC) to $205 from $245 and keeps an Overweight rating on the shares. The firm cites higher conservatism amid ongoing macro uncertainty and to better align with a potential recovery scenario. While KeyBanc acknowledges that a recession would likely drive further significant downside across its entire coverage, the firm thinks investors could look toward Distributors as relative safe havens within the broader Industrials universe given the group’s high counter-cyclical free cash flow profile and historical sales and earnings resilience through modest downturns.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Disclaimer & DisclosureReport an Issue