Sherwin-Williams price target lowered to $231 from $283 at BMO Capital

BMO Capital analyst John McNulty lowered the firm’s price target on Sherwin-Williams to $231 from $283 and keeps a Market Perform rating on the shares. The company’s FY23 guidance was "shockingly worse" than expected, and the stock is likely to perform in line with the market in 2023 given concerns over its housing exposure and conservative guide, the analyst tells investors in a research note. The firm also states that the management may be "sandbagging" the outlook after some tough quarters, but Sherwin-Williams shares are still trading at a "tough valuation".