Deutsche Bank downgrades Sherwin-Williams to Hold on valuation

Deutsche Bank analyst David Begleiter last night downgraded Sherwin-Williams (SHW) to Hold from Buy with a price target of $380, down from $390. The firm says the Sherwin’s valuation as fair at slightly above its historical five-year averages. 2026 should mark Sherwin’s third straight year of below 10% earnings growth, the analyst tells investors in a research note. Deutsche believes that until Sherwin can demonstrate a path back to 10%-plus earnings growth, the “bias is to the downside on its valuation multiple.”