Graco rises on Q1 results beat

Graco

27/04/2023 17:30

** Shares of fluid-related industrial equipment maker Graco
 GGG.N  rise 12.1% to $77.30
    ** Co posts Q1 adj. earnings of 74 cents​​ per share,
beating analysts' avg. estimate of 62 cents per share, according
to Refinitiv data
    ** Posts Q1 revenue of $529.65 mln vs estimates of $501.90
mln, driven by double-digit growth in its process segment
    ** Co confirms 2023 revenue outlook of low single-digit
growth on an organic, constant currency basis
    ** Brokerage D.A. Davidson raises GGG's PT to $75 from $70
    ** Three of Nine analysts rate the stock "buy" or higher,
while six rate "hold"; median PT $77.50– Refinitiv data
    ** Including session's gains, stock has risen 14.45% YTD

 (Reporting by Sruthi Narasimha Chari in Bengaluru)
 ((Sruthinarasimha.chari@thomsonreuters.com))