Goldman Sachs Upgrades Graco Inc. (GGG) to Neutral
Goldman Sachs upgraded Graco Inc. (NYSE: GGG) from Sell to Neutral with a price target of $68 (from $60), citing resilient margins and reset expectations.
The firm said while growth with remain slow, expectations have been appropriately reset. The firm is also raising the multiple to 19.0X from 17.0X, saying the company should sustain a premium to the group as long as the strong execution continues.
For an analyst ratings summary and ratings history on Graco Inc. click here. For more ratings news on Graco Inc. click here. Shares of Graco Inc. closed at $61.71 yesterday, with a 52 week range of $41.09-$65.43.
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