RBC Raises WESCO International Price Target to $335 Following Record Revenue

Royal Bank of Canada (RBC) has increased its price target for WESCO International (WCC) from $316.00 to $335.00. The bank maintained its "Outperform" rating on the stock, suggesting a potential upside of 12.79% from current levels. This adjustment reflects RBC's confidence in the company's long-term growth trajectory despite a recent miss in fourth-quarter earnings per share (EPS) estimates. Notably, WESCO achieved record revenue during the period and announced an increase in its dividend payments. Analysts view the company's strong top-line performance as a key driver for future valuation. The price target hike underscores a positive outlook for the industrial distributor in the coming quarters.