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

KeyBanc raised the price target on Wesco (WCC) to $245 from $225 and keeps an Overweight rating on the shares as the firm takes a selectively constructive approach toward its early-cycle Industrial Tech and Distribution coverage. While visibility around near-term cycle conditions continues to be limited, KeyBanc remains cautiously optimistic for inflecting organic volumes in the first half of 2025 supported by easier comparisons, stabilizing channel inventories, and ongoing secular trends supporting domestic onshoring/automation investments. Despite the firm’s expectation for a choppier near-term environment, it thinks its early cycle coverage should remain relatively more resilient vs. the broader industrial landscape, while also being among the first to benefit from a potential cycle inflection.