BofA upgraded Sherwin-Williams (SHW) to Neutral from Underperform with a price target of $375, up from $296. Same-store sales growth has declined to 0.8% and Q2 results and guidance fell short of expectations, but from here, BofA does not see anything that would make shares materially underperform, the analyst tells investors in a research note. Sherwin-Williams is a best-in-class business and should emerge from this downcycle in a very strong position and continue to outgrow end markets, the firm adds.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SHW:
- Sherwin-Williams upgraded to Neutral from Underperform at BofA
- Sherwin-Williams Amends Credit Agreement and Secures New Loan
- Sherwin-Williams Announces $1.5 Billion Senior Notes Offering
- Sherwin-Williams price target lowered to $380 from $400 at Evercore ISI
- Sherwin-Williams price target lowered to $395 from $410 at UBS