Wells Fargo upgraded Sherwin-Williams (SHW) to Overweight from Equal Weight with a price target of $420, up from $350. The firm noted the company’s “exceptional” execution, driving earnings growth despite anemic demand thanks to share gains and positive pricing momentum. The firm added that it is encouraged by Sherwin-Williams’ share gains, new account wins, and efficiency/cost improvements across its segments, and believes these actions position the company as the premier name to own for a housing recovery.
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