Wesco price target lowered to $220 from $250 at Loop Capital

Loop Capital lowered the firm’s price target on Wesco (WCC) to $220 from $250 and keeps a Buy rating on the shares. Incredible growth within the datacenter business continues to drive strong performance, with Wesco now expecting sales above the midpoint of guidance, the analyst tells investors in a research note. While project mix and competitive dynamics present headwinds to gross margin, Loop continue to see Wesco as well positioned to deliver on expectations while cash deployment and rising pricing have the ability to drive upside, the firm added.