MSC Industrial Direct Gets Price Target Bumps By Analysts After Strong Q2 Results

MSC Industrial Direct Co Inc MSM reported better-than-expected Q2 financial results.

MSC Industrial Direct reported second-quarter FY23 sales growth of 11.5% year-over-year to $961.6 million, beating the consensus of $934.07 million. Adjusted EPS increased 12.4% Y/Y to $1.45, beating the consensus of $1.34.

MSC Industrial Direct shares dropped 0.9% to close at $83.64 on Tuesday and added 2.8% in today’s pre-market trading session.

These analysts made changes to their price targets on MSC Industrial Direct following the release of guidance.

• Baird raised the price target on MSC Industrial Direct from $95 to $104. Baird analyst David Manthey maintained an Outperform rating.
• Loop Capital boosted the price target on MSC Industrial Direct from $82 to $89. Loop Capital analyst Chris Dankert maintained a Hold rating.
• JP Morgan increased the price target on MSC Industrial Direct from $80 to $86. JP Morgan analyst Patrick Baumann maintained the stock with a Neutral rating.
• Stephens & Co. analyst Tommy Moll, meanwhile, reiterated MSC Industrial Direct with an Overweight and maintained a $100 price target.

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