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Fly News Breaks for April 12, 2018
GGG
Apr 12, 2018 | 06:40 EDT
DA Davidson analyst Matt Summerville initiated Graco with a Neutral rating and a price target of $48, citing the company's leverage to positive trends across its end markets that include construction, industrial, and automotive. Summerville also points to Graco's "best-in-class" profitability, history of strong returns, and free cash flow generation. The analyst sees shares as "appropriately valued" however, adding he does not anticipate any material upgrade in consensus earnings.
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