KeyBanc Raises WESCO Price Target to $340 After Q4 Revenue Rises 10%
KeyBanc lifted WESCO’s price target to $340 from $304 after Q4 revenue rose 10% to $6.07 billion with adjusted EPS of $3.40. Full-year revenue reached $23.5 billion (+8%) with backlog up 19%, and 2026 guidance calls for 5–8% sales growth, a 6.8% EBITDA margin and $14.5–16.5 billion in adjusted EBITDA.
1. Fourth-Quarter Results
Revenue rose 10% year over year to $6.07 billion in Q4, while adjusted EPS reached $3.40 per share, falling short of the $3.89 consensus estimate. The top-line strength reflects robust demand across WESCO’s electrical, industrial and communications distribution segments.
2. Full-Year Performance and Backlog
WESCO delivered a record $23.5 billion in full-year revenue, up 8% from the prior year, and ended the period with a backlog of $X billion, representing a 19% increase to its highest level on record. The backlog growth underscores strengthened order momentum across construction and utility end markets.
3. 2026 Guidance and Analyst Update
For fiscal 2026, WESCO projects sales growth of 5–8%, an EBITDA margin of 6.8% and adjusted EBITDA between $14.5 billion and $16.5 billion. In response, KeyBanc reiterated an Overweight rating and increased its price target to $340 from $304, citing conservative guidance assumptions.