Graco price target raised to $75 from $70 at DA Davidson

DA Davidson raised the firm’s price target on Graco to $75 from $70 but keeps a Neutral rating on the shares. The company’s Q1 results were "impressive" with upside in both Contractor and Process segments, and the organic sales growth was solid, the analyst tells investors in a research note. The firm notes however that the 2023 core outlook was reiterated at low-single-digit organic growth, implying a weaker go-forward outlook.