WW Grainger "neutral," target price raised

07/19/04 - Robert W. Baird

NEW YORK, July 19 (New Ratings) - Analysts at Robert W Baird maintain their "neutral" rating on WW Grainger (GWW), while raising their estimates for the company. The target price has been raised from $60 to $65.

In a research note published this morning, the analysts mention that the company reported its 2Q04 EPS ahead and sales short of the estimates. The EPS estimates for 2004 and 2005 have been raised from $2.85 to $2.95 and from $3.30 to $3.50, respectively.