WCC - Wesco climbs 5% after upgrade to Buy at Jefferies on electrical growth
Wesco International ( NYSE: WCC ) rose 5% on Monday as the company was upgraded to a Buy rating from Hold by analysts at Jefferies. The investment said Wesco will benefit from spending on electrical infrastructure, and raised its price target to $150 a share from $148.
“We believe there is a very real secular growth opportunity tied with the ‘electrification of everything,’” Stephen Volkmann, analyst at Jefferies, said in the Oct. 17 report.
His team also assumed coverage of W.W. Grainger ( NYSE: GWW ) with a Buy rating, and of Fastenal ( NASDAQ: FAST ) and MSC Industrial ( NYSE: MSM ) with a Hold rating.
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Wesco climbs 5% after upgrade to Buy at Jefferies on electrical growth