Wesco price target raised to $245 from $225 at Jefferies

Jefferies raised the firm’s price target on Wesco (WCC) to $245 from $225 and keeps a Buy rating on the shares as part of a broader research note previewing 2025 for the Machinery and Industrial sector. Approaching 2025, the landscape has changed as the markets have turned more bullish on industrial trends and with valuations near the high end of historical highs, the firm has to be “increasingly selective”, Jefferies states. The firm is positive on Wesco being levered to end-markets with secular industrial drivers – electrification, broadband expansion, infrastructure build-out – while noting that the stock is trading at a discount to its peers and should be able to close its gap as its margins improve amid business integration of Anixter International.