Truist analyst Keith Hughes raised the firm’s price target on Mohawk Industries (MHK) to $155 from $148 and keeps a Buy rating on the shares. The firm cites the company’s mixed results in the quarter as demand remains weak albeit with Remove/Replace somewhat better than new construction, the analyst tells investors in a research note. The stock has seen a dramatic multiple contraction however and substantial share repurchases could start a narrative change, the firm added.
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