Vincent Andrews, an analyst from Morgan Stanley, maintained the Buy rating on Sherwin-Williams Company. The associated price target remains the same with $385.00.
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Vincent Andrews has given his Buy rating due to a combination of factors that highlight Sherwin-Williams Company’s strong performance and potential for growth. The company’s Paint & Wallpaper sales, a proxy for the ‘do it for me’ market, showed a significant year-over-year increase in August, indicating robust demand despite a challenging comparison period. This growth suggests resilience in the company’s core business operations.
Additionally, while the company’s same-store sales have underperformed compared to Paint & Wallpaper sales, this underperformance is not seen as a shift in the company’s narrative. Management remains optimistic about future competitive opportunities, as reflected in their commentary during the third quarter reporting and a recent conference. Despite some declines in the home improvement retail sales, Sherwin-Williams’ overall market position and strategic outlook appear strong, justifying the Buy rating from Andrews.