Truist analyst Keith Hughes raised the firm’s price target on Mohawk Industries to $140 from $127 and keeps a Buy rating on the shares. The analyst cites the company’s Q1 earnings beat while noting that the quarter had familiar themes of weak U.S. volume and pricing, coupled with offsets in substantially lower inputs and productivity gains. Truist adds however that Mohawk Industries remains “well underutilized”, also noting that a U.S. remodel recovery could drive a substantial earnings rebound.
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