Wesco price target raised to $350 from $275 at Stephens

Stephens raised the firm’s price target on Wesco (WCC) to $350 from $275 and keeps an Equal Weight rating on the shares. The firm’s raised target reflects a higher implied multiple on its positively-revised adjusted EBITDA estimates, says the analyst, acknowledging data center trends have “continued driving step changes in electricals earnings power and market multiples.”