Sherwin-Williams downgraded to Neutral from Outperform at Baird

Baird downgraded Sherwin-Williams to Neutral from Outperform with a price target of $300, up from $270. The firm says its investment thesis specific to price-cost driven margin expansion has largely played out and is priced into the shares. The stock is now susceptible towards a potential reversal higher in interest rates following a significant pullback, the analyst tells investors in a research note. Baird views Sherwin-Williams’ valuation as full.