Mohawk Industries price target raised to $106 from $101 at RBC Capital

RBC Capital analyst Mike Dahl raised the firm’s price target on Mohawk Industries to $106 from $101 and keeps a Sector Perform rating on the shares. The company’s lower expected tax rate more than offsets weaker core margins in Ceramic and Rest of the World segment’s, the analyst tells investors in a research note. Improvement in Flooring North America was notable this quarter, but price/mix remains weak across segments, with still limited near-term visibility toward improvement, the firm added.