Bank of America Securities analyst Rafe Jadrosich reiterated a Buy rating on Mohawk on July 25 and set a price target of $138.00.
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Rafe Jadrosich has given his Buy rating due to a combination of factors including Mohawk’s recent financial performance and valuation metrics. The company reported second-quarter earnings per share that exceeded expectations, which prompted an upward revision of future earnings estimates. Despite a slight shortfall in third-quarter guidance compared to consensus, the overall outlook remains positive with expected recovery in the fourth quarter as inflationary pressures ease.
Additionally, Mohawk’s valuation appears attractive, trading below its historical averages and offering a strong free cash flow yield. The company’s strategic actions, such as increased share repurchases and a new authorization for further buybacks, indicate confidence in its financial health. These factors, coupled with the potential for improved margins and favorable industry dynamics, underpin the Buy rating recommendation.
In another report released yesterday, TR | OpenAI – 4o also upgraded the stock to a Buy with a $134.00 price target.