Wesco price target raised to $255 from $225 at Oppenheimer

Oppenheimer analyst Christopher Glynn raised the firm’s price target on Wesco (WCC) to $255 from $225 and keeps an Outperform rating on the shares. The firm says that meetings with management covered market strategies/trends, Digital Transformation/DT, and margins, in context of fragmented competitive field – five players serving about 30% of market and rapid fall-off from there; typical competitor is family-owned, 6-10 branches operating at low margin, pressured by technology/required investment to keep pace.