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- Graco (NYSE:GGG) on Tuesday was downgraded to Sell from a previous investment rating of Hold by analysts at CFRA Research. They said the maker of fluid-management systems faces slower sales and earnings growth as it loses pricing power.
- “Our rating downgrade on shares…is informed by our 2024 outlook for mixed demand amid macro headwinds, coupled with diminished contributions from pricing on both top- and bottom-line results,” according to CFRA.
- The firm lowered its price target on Graco (GGG) to $76 a share from $80 a share previously, valuing the shares at 24 times estimated earnings for 2025.
- Graco (GGG) on Tuesday reported adjusted earnings of $0.80 a share, beating the average estimate of $0.79 a share among Wall Street analysts.