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Fly News Breaks for January 11, 2016
GWW
Jan 11, 2016 | 09:00 EDT
As previously reported, Morgan Stanley downgraded Grainger to Underweight from Equal Weight and a revised price target of $189 on shares. Analyst Nigel Coe no longer believes Grainger deserves a premium multiple given challenges that include a premium multiple, increasing competition, price and mix headwinds, weak free cash flow, and higher balance sheet leverage.
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