BofA raised the firm’s price target on Mohawk Industries to $110 from $95 and keeps an Underperform rating on the shares after the company reported adjusted Q4 EPS above the firm’s and Street estimates and guided Q1 adjusted EPS slightly above the firm’s previous forecast. The firm, which raised its 2024 and 2025 adjusted EPS forecasts by 9% and 7%, respectively, says margin headwinds have peaked, but adds that it expects flooring demand to remain weak in the first half of the year.
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Read More on MHK:
- Mohawk Industries price target raised to $106 from $101 at RBC Capital
- Mohawk Industries price target raised to $121 from $112 at UBS
- Mohawk Industries price target raised to $125 from $116 at Baird
- Mohawk Industries price target raised to $122 from $100 at Barclays
- Mohawk Industries upgraded to Buy from Hold at Deutsche Bank
