Mohawk Industries price target lowered to $135 from $155 at Truist

Truist lowered the firm’s price target on Mohawk Industries (MHK) to $135 from $155 and keeps a Buy rating on the shares. The company’s Q1 results topped estimates but its Q2 guide was below consensus, though the firm notes that the forward outlook was “easy to read” given input inflation and weak stock performance heading into the announcement, the analyst tells investors in a research note. Truist adds, however, that the stock valuation is so low that it would take even further crude inflation to move stock down much lower.