Wesco price target raised to $395 from $330 at Oppenheimer

Oppenheimer analyst Christopher Glynn raised the firm’s price target on Wesco (WCC) to $395 from $330 and keeps an Outperform rating on the shares. The firm notes strong order trends continue to roll at an accelerated pace, with record backlog 22% year-over-year and all three segments improving backlog sequentially, encore to the significant Q4 backlog build.