- Raymond James analyst Sam Darkatsh raised WESCO International, Inc. WCC price target to $145 (implying an upside of 23.5%) from $140 and maintained a Strong Buy rating on the shares.
- Darkatsh notes better than expected near-term business conditions and pricing.
- With a double-digit free cash flow yield, Darkatsh believes the market is essentially assigning no growth in perpetuity to Wesco, creating an asymmetric setup, for now, industry-leading deleveraging "equity-stub."
- Recently, Keybanc raised its price target to $135, maintained an Overweight rating on the shares.
- Price Action: WCC shares are trading higher by 0.88% at $117.49 on the last check Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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