Stifel downgrades MSC Industrial Direct rating to 'equal weight'

MSC Industrial Direct

04/12/2024 14:10

** Stephens downgrades industrial equipment maker MSC
Industrial Direct  MSM.N  to "equal weight" from "overweight"
    ** Brokerage says near-term trends appear challenged, with
continued heavy manufacturing headwinds and an
"overly-optimistic" consensus outlook for MSM's FY 2025 adj. EPS
    ** Also says MSM should benefit from any tariff-driven
inflation and/or stimulus of the U.S. manufacturing base as 2025
unfolds
    ** Maintains PT at $85, representing a 0.28% upside to
stock's last close
    ** 9 of 9 brokerages rate the stock "hold"; their median PT
is $80 - LSEG data
    ** Up to last close, stock was down 16.3% YTD

 (Reporting by Anshuman Tripathy)
 ((Anshuman.Tripathy@thomsonreuters.com))