CDW Corp: Tough To See Upwards Multiple Re-Rating In The Near Term (Rating Downgrade)

Core Viewpoint - The analyst previously rated CDW Corp as a buy due to its attractive valuation at 16x forward PE and strong growth drivers, but has now downgraded it to a hold rating due to reduced conviction in the investment thesis [1]. Summary by Relevant Sections - Valuation and Growth Drivers - CDW Corp was initially considered undervalued at a forward PE of 16x, indicating potential for growth [1]. - The growth drivers for the company were identified as clear and strong, supporting the initial buy rating [1]. - Change in Rating - The downgrade to a hold rating reflects a shift in the analyst's confidence regarding the investment in CDW Corp [1].