UBS lowered the firm’s price target on Sherwin-Williams to $274 from $290 and keeps a Neutral rating on the shares. Sherwin-Williams’ Q3 adjusted EPS was 15% above consensus, and the company raised its FY EPS guidance, the analyst tells investors in a research note. UBS says a standout in Q3 is the pickup in gross margins, which likely continues to support the bull case around continued gross margin 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