Mohawk Industries upgraded to Sector Perform from Underperform at RBC Capital

RBC Capital analyst Mike Dahl upgraded Mohawk Industries to Sector Perform from Underperform with a price target of $101, up from $80. The firm’s expectation for significant fundamental deterioration is reflected in the stock’s current valuation, the analyst tells investors in a research note. RBC also believes the pro-cyclical rally could support lower quality stocks in the near term, and lower input costs could help to stabilize Mohawk’s margins.