Grainger downgraded to Perform from Outperform at Oppenheimer

Oppenheimer downgraded Grainger to Perform from Outperform without a price target The company “has now earned just market recognition” for the strength of its assets, supply chain, data analytics, improved pricing algorithms, and demand generation, the analyst tells investors in a research note. The firm believes Grainger’s current valuation likely needs to be tested and consolidate at the current juncture.