BUZZ-BofA initiates coverage for WW Grainger with "underperform" rating

Reuters
2024-10-08

** BofA Global Research initiates coverage for industrial maintenance and safety products supplier WW Grainger 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))

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