Benzinga | Sep 29, 2021 12:08PM EDT

WESCO Price Target Raised At Raymond James - Read Why

* Raymond James analyst Sam Darkatsh raised WESCO International, Inc. (NYSE:WCC) price target to $145 (implying an upside of 23.5%) from $140 and maintained a Strong Buy rating on the shares.

* Darkatsh notes better than expected near-term business conditions and pricing.

* With a double-digit free cash flow yield, Darkatsh believes the market is essentially assigning no growth in perpetuity to Wesco, creating an asymmetric setup, for now, industry-leading deleveraging "equity-stub."

* Recently, Keybanc raised its price target to $135, maintained an Overweight rating on the shares.

* Price Action: WCC shares are trading higher by 0.88% at $117.49 on the last check Wednesday.