UPDATE: Citi Raises PT on WESCO International to $70 (WCC)

Citi is out with its report today on WESCO International WCC, raising its PT from $69 to $70. In a note to clients, Citi writes, "We recognize that WESCO has ample capacity to do more highly accretive acquisitions of regional distributors. Acquisitions contributed 9c to the quarter, and at this run-rate, there should be upside to the initial forecast for 30c of accretion from TVC. We are increasing our 2011/2012 estimates by 5c/10c and raising our target by $1 to $70, and we reiterate our Buy rating." At the time of posting, shares of WCC were trading at $61.04, up 0.41% from Thursday's close.