In a report released today, Greg Melich from Evercore ISI maintained a Buy rating on Sherwin-Williams Company, with a price target of $380.00.
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Greg Melich has given his Buy rating due to a combination of factors that indicate Sherwin-Williams is well-positioned for future growth. The company’s management has shown a strong commitment to gaining market share even in a challenging economic environment, focusing on strategic store growth and capitalizing on price and mix advantages. Despite current volume challenges, Sherwin-Williams is poised to benefit when market conditions improve, thanks to its robust strategy and focus on increasing volumes in the future.
Additionally, Sherwin-Williams is investing in simplification and digitization efforts, which align with its mid-term financial targets. The company’s disciplined approach to capital allocation, including maintaining low capex and strategic M&A, supports its growth objectives. Furthermore, Sherwin-Williams’ ability to provide consistency and reliability to its customers, especially compared to competitors who have had to make abrupt price changes, positions it favorably to capture additional market share. These strategic initiatives and market positioning underpin Melich’s positive outlook on the stock.
In another report released today, RBC Capital also maintained a Buy rating on the stock with a $400.00 price target.