Analyst John McNulty of BMO Capital maintained a Buy rating on Sherwin-Williams Company, reducing the price target to $405.00.
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John McNulty has given his Buy rating due to a combination of factors that suggest Sherwin-Williams Company is poised for future growth despite current challenges. The company has shown resilience with modestly better-than-expected top-line results, driven by strong performance in certain segments, which offsets weaknesses in others.
Despite the recent setbacks in earnings and increased costs due to strategic investments and the new headquarters, McNulty sees potential for Sherwin-Williams to outperform the market in the coming years. This optimism is supported by anticipated raw material deflation and a more stable housing market, which are expected to enhance the company’s earnings and market share.
In another report released today, Morgan Stanley also maintained a Buy rating on the stock with a $385.00 price target.
Based on the recent corporate insider activity of 74 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SHW in relation to earlier this year.