Wells Fargo lowered the firm’s price target on Sherwin-Williams to $245 from $271 and keeps an Equal Weight rating on the shares. The firm says high interest rates could mute U.S. architectural paint demand, keeping PSG from generating attractive volume growth, which it believes is needed for multiple expansion.
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Read More on SHW:
- Sherwin-Williams price target lowered to $270 from $300 at Baird
- Sherwin-Williams sees Q4 revenue up or down in low-single digits
- Sherwin-Williams raises FY23 adj EPS view to $10.10-$10.30 from $9.30-$9.70
- The Sherwin-Williams Company Reports 2023 Third Quarter Financial Results
- Sherwin-Williams reports Q3 adjusted EPS $3.20, consensus $2.77