Sherwin-Williams price target raised to $296 from $289 at BofA

BofA analyst Steve Byrne raised the firm’s price target on Sherwin-Williams (SHW) to $296 from $289 and keeps an Underperform rating on the shares. The firm’s Q2 EPS estimate increases to $3.90 from $3.85, reflecting lower raw material inflation given tariff delays and an improving forex outlook, partially offset by lower expected volumes in the Paint Stores Group and Consumer Brands Group, the analyst tells investors. The firm reiterates an Underperform rating based on a “lofty valuation multiple” and less favorable end market exposure than at coatings peers, the analyst noted.