J.P. Morgan Raising Price Target On Wesco (WCC)

J.P. Morgan Chase & Co. is raising its price target on shares of WESCO International, Inc. WCC to $58 from $48, and is keeping its Overweight rating on shares. In a note to clients, J.P. Morgan writes, "WCC reported a solid 4Q, with continued momentum on the top line as key end markets come off trough. Shares have performed well since the announcement of the TVC acquisition, but we continue to like the combination of late-cycle leverage and share gain opportunities from growth initiatives. We are raising our estimates/PT and reiterate our OW rating." Shares of WCC closed at $54.39 on Friday.