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Fly News Breaks for October 17, 2018
GWW
Oct 17, 2018 | 09:20 EDT
Longbow analyst Chris Dankert believes Grainger selloff may be overdone. The analyst notes that numerous factors coalesced to drag on shares as concerns about organic U.S. operating leverage, and the poorly telegraphed curtailment of guidance met plateauing large-customer growth and GM headwinds. However, Dankert believes the shares may be more interesting on the long side now as ongoing restructuring savings, robust medium customer growth, and positive pricing should drive EPS above the guidance range. The analyst sees the risk-reward beginning to shift favorably. He reiterates a Neutral rating on the shares.
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