BofA initiates coverage for WW Grainger with "underperform" rating

WW Grainger

07/10/2024 17:25

** BofA Global Research initiates coverage for industrial
maintenance and safety products supplier WW Grainger  GWW.N 
with "underperform" rating at $925
    ** PT represents 10% downside to stock's last close
    ** Brokerage expects co's slow market share gains and
contracted margins to continue
    ** BofA expects faster growth in co's lower-margin
e-commerce businesses will contribute to margin headwinds
    ** Peers have done better head-to-head in specific products
than GWW -BofA
    ** 2 of 18 brokerages rate stock "strong buy", 15 "hold" and
one "sell"; median PT is $973 - LSEG
    ** As of last close, GWW up 24.7% YTD

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