Industrials Lead Analyst Target Upgrades

Analysts are lifting price targets across industrial names today. The upgrades reflect growing confidence in the sector after recent earnings beats.

W.W. Grainger leads the move. The industrial distributor's consensus target jumped to $1,314 from $1,301. The company carries a $60.5 billion market cap. Short sellers are minimal — SI sits at just 2.6% of free float.

Parker-Hannifin also saw a target boost. Analysts lifted the consensus to $1,064 from $1,040. With a $125 billion market cap, Parker remains one of the largest industrial plays on Wall Street. 25 analysts cover the stock. Only one rates it a sell.

The day was not all positive. Molson Coors took a hit. Analysts trimmed the target to $45.05 from $45.10. The beverage maker carries a notably higher short interest — 17.3% of free float. That compares sharply with the industrial names. Four analysts now rate it a buy against seven sells.

Apollo Global Management rounded out the upgrades. The alternative asset manager saw its consensus target edge up to $152. Fifteen analysts recommend it as a buy.

Across today's changes, industrials dominated the positive revisions. Consumer staples lagged.