Graco price target lowered to $93 from $96 at RBC Capital

RBC Capital analyst Deane Dray lowered the firm’s price target on Graco (GGG) to $93 from $96 but keeps an Outperform rating on the shares after its Q3 results. Weakness in China – 10% of overall revenue – accounted for 90% of the shortfall, while the stock valuation also remains attractive below its historical relative P/E range, the analyst tells investors in a research note.