Stock Markets14 minutes ago (Jun 15, 2021 09:39AM ET)© Reuters.
By Dhirendra Tripathi
The latest target is still a 6% below the stock’s current level of $51.
The brokerage noted that the stock is already near its all-time high of $54.32 and there’s been a lull in customer acquisition lately, indicators of the upside being limited.
Net sales at the wholesale distributor of industrial and construction supplies fell 3.2% in May and rose a mere 1.2% in April.
The company is altering its sales strategy, and analyst Joshua Pokrzywinski believes investors should sit out that transition.Fastenal Falls On Morgan Stanley Downgrade Add a Comment