Graco price target raised to $89 from $82 at RBC Capital

RBC Capital analyst Deane Dray raised the firm’s price target on Graco to $89 from $82 and keeps an Outperform rating on the shares. The company’s Q1 was a high quality beat on stronger growth and margins in Contractor and Process, the analyst tells investors in a research note. While supply chains are slowing improving, items like castings and some electronics remain scarce, RBC added.