Mohawk Industries price target raised to $121 from $112 at UBS

UBS raised the firm’s price target on Mohawk Industries to $121 from $112 and keeps a Neutral rating on the shares. UBS believes a slightly higher valuation multiple is warranted as price/mix vs. cost appear better aligned, which could set the stage for margin expansion opportunities as volume and productivity improve in the second half of 2024 and into 2025, the analyst tells investors in a research note.