W.W. Grainger (GWW) - Bull of the Day

W. W. Grainger's (GWW) third quarter adjusted EPS improved 32% year over year to $1.99 and revenues jumped 19% to $1.9 billion, outperforming the respective Zacks Consensus Estimates.

For fiscal 2010, Grainger elevated its sales growth guidance to a range of 14%-15% and its EPS guidance to a range of $6.40 to $6.70. Grainger remains focused on expanding its product offering and has the financial flexibility to further invest in growth opportunities, increase dividends and reinvest capital through share repurchases.

Gradually improving economic activity, market share gains, benefits from growth investments, share repurchases and strategic acquisitions should lead to strong earnings growth in 2010 and 2011. We have upgraded our rating from Neutral to Outperform with a target price at $149.
 
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