Mohawk Industries price target lowered to $119 from $130 at RBC Capital

RBC Capital analyst Mike Dahl lowered the firm’s price target on Mohawk Industries (MHK) to $119 from $130 and keeps a Sector Perform rating on the shares. The firm is cutting its FY25 EPS view by 6% to $8.85 following the company’s softer Q2 guide, incorporation of tariff headwinds, and weaker volumes/mix as demand/competitive conditions remained challenged through April, the analyst tells investors in a research note. RBC adds that it is wary of a meaningful/sustainable near-term earnings recovery for Mohawk given ongoing housing/macro/policy uncertainty, deterioration in the consumer backdrop, and clear lack of any meaningful rate relief.