Oppenheimer Maintains Outperform On Wesco International, $95 PT

In a research report issued Monday, Oppenheimer analyst Christopher Glynn maintained an Outperform rating on Wesco International (NYSE:WCC) with a price target of $95.

Glynn said, “Organic growth was a solid 6.7% in 3Q, up slightly from 6.0% in 2Q, and a strong indication of renewed momentum in sales execution. Industrial markets grew 7%, with National Accounts and Integrated Supply outperforming that level. Share gain momentum appears increasingly assertive, following a lull over the past couple of years, which we view as having compared against significant outperformance in 2010-1H12. The new organizational structures appear adept at capturing large project opportunities, and while the business that is out there to be won currently has a modestly dilutive GM mix profile, we are increasingly confident in our 6% ’15E top line estimate. We model flat GM.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Christopher Glynn has a total average return of 14.1% and a 77.1% success rate. Glynn is ranked #202 out of 3347 analysts.

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