KeyBanc analyst Kenneth Zener downgraded Sherwin-Williams to Sector Weight from Overweight without a price target. The analyst says a "valuation reflation" for the shares versus the S&P 500 Index is unlikely until earnings visibility improves. Falling demand "crimps" Sherwin’s operating leverage despite falling input costs, the analyst tells investors in a research note. The firm cut its fiscal 2023 earnings per share estimate to $8.30 from $9.32 and downgraded the shares.
Published first on TheFly
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