Baird downgraded Mohawk Industries (MHK) to Neutral from Outperform with a price target of $118, down from $156. The firm’s Q1 channel checks indicate residential building product activity remains lackluster, with spending weakness continuing and project indicators mixed. The group’s fundamentals remain challenging and risks have again emerged around volume and margin assumptions for 2026, the analyst tells investors in a research note. Baird cites elevated estimate risk for the downgrade of Mohawk.
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