W.W. Grainger Poised for Organic Upside Into 2025, Morgan Stanley Says

MT Newswires Live11-20 00:55

W.W. Grainger (GWW) is poised for organic and gross margin upside into 2025, Morgan Stanley said in a note Tuesday.

"We view [W.W. Grainger] and US industrial distributors more broadly as under-appreciated beneficiaries of US reshoring," the investment bank said.

The company's Q4 earnings per share is expected to be $9.96, which is at the high end of the $9.41 to $10.11 implied guide, Morgan Stanley said.

The firm said that for 2025 to 2026, it forecasts organic growth of 5% to 6% for the company's High-Touch business and mid-teens organic growth for its Endless Assortment segment.

Morgan Stanley anticipates the company's gross margin turning positive year over year in the first half of 2025, which will boost its operating leverage and earnings per share growth.

The firm boosted W.W. Grainger's price target to $1,215 from $990 and maintained its equalweight rating.

Price: 1172.41, Change: +0.27, Percent Change: +0.02

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