Truist lowered the firm’s price target on Mohawk Industries to $98 from $105 but keeps a Buy rating on the shares. The company’s results were just above expectations and its guidance was “not as bad as feared”, the analyst tells investors in a research note. Mohawk valuation is now below book value, but the management’s unwillingness to buy shares back is hard to understand, the firm added, stating that it also believes he company is now prone to activist or buyout interest at current valuations as regular shareholder interest is at an all-time low.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on MHK:
- Mohawk Industries price target lowered to $125 from $130 at Loop Capital
- Mohawk Industries price target lowered to $90 from $128 at Deutsche Bank
- Mohawk Industries sees Q4 adjusted EPS $1.80-$1.90, consensus $2.12
- Mohawk Industries reports Q3 adjusted EPS $3.34, consensus $2.66
- Mohawk Industries Reports Q3 Results
