Wesco price target raised to $187 from $171 at RBC Capital

RBC Capital raised the firm’s price target on Wesco to $187 from $171 and keeps a Sector Perform rating on the shares. The company’s investor day presentation affirmed its 2024 outlook and also its long-term guidance while setting high expectations for “needle-moving” M&A over the medium term, the analyst tells investors in a research note. Along with M&A, Wesco’s margin and earnings ramp are expected to benefit from leverage to multi-year secular drivers, enhanced digital capabilities, and profitable services, the firm added.