Stephens downgraded MSC Industrial (MSM) to Equal Weight from Overweight with an unchanged price target of $85. Since earnings, shares have moved about 9% higher, aided by post-election enthusiasm as the company should benefit from any tariff-driven inflation and/or stimulus of the U.S. manufacturing base, the analyst tells investors. However, the nearer-term trends appear challenged, with PMI continuing to languish well below 50, and shares are now sitting just under the firm’s $85 price target notes the analyst, who expects shares to “remain range-bound in the mid-$80s.”
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Read More on MSM:
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- MSC Industrial reports Q4 adjusted EPS $1.03, consensus $1.08
- MSM Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- MSC Industrial price target raised to $91 from $84 at Baird
- MSC Industrial Raises Quarterly Cash Dividend
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
