BofA analyst Rafe Jadrosich lowered the firm’s price target on Mohawk Industries to $108 from $110 and keeps an Underperform rating on the shares. The firm lowered its 2023 and 2024 estimates by 2% and 3%, respectively, to reflect weaker retail flooring spending trends and channel checks pointing to weaker demand and pricing pressure for the flooring segment.
Published first on TheFly
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Read More on MHK:
- Mohawk upgraded to Buy at Loop Capital on ‘exaggerated’ negative sentiment
- Mohawk Industries upgraded to Buy from Hold at Loop Capital
- Mohawk Industries, Inc. Invites You to Join the First Quarter 2023 Earnings Conference Call
- Mohawk Industries price target lowered to $103 from $109 at Credit Suisse
