William Blair Upgrades Graco Citing Expected Benefits From Infrastructure Bill

December 2, 2021 11:32 AM | 1 min read |

William Blair analyst Nicholas Heymann upgraded Graco Inc. GGG to Outperform from Market Perform without a price target.
Heymann believes the company's long-term organic sales growth should "materially benefit" from the U.S. Infrastructure Investment and Jobs Act in 2022 through 2026, and from 5% higher sales from backlog normalization and a larger estimated price increase, effective January 1, 2022.
He estimates Graco's 2022 organic sales should increase 17%-19%, well above his prior forecast of 6.9%.
Price Action: GGG shares traded higher by 5.23% at $75.43 on the last check Thursday.