Grainger price target raised to $750 from $670 at Loop Capital

Loop Capital analyst Chris Dankert raised the firm’s price target on Grainger to $750 from $670 and keeps a Buy rating on the shares after its Q4 earnings beat coming in spite of the one-time SG&A headwinds. The company’s above-consensus FY23 guidance also looks to be "highly achievable", and the market consolidation that accelerated during the pandemic is here to stay as investments in technology, pricing, merchandising, and working capital continue to drive Grainger’s outgrowth, the analyst tells investors in a research note.