RBC Capital lowered the firm’s price target on Sherwin-Williams to $341 from $346 but keeps an Outperform rating on the shares. The company’s FY24 guide is likely conservative and the firm remains positive on the stock, saying that Sherwin-Williams investments and pricing should support above-market growth and volume upside that could fuel further margin expansion if demand improves in certain markets, the analyst tells investors in a research note.
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Read More on SHW:
- Sherwin-Williams sees Q1 revenue down to up in low-single digits
- Sherwin-Williams sees FY24 adjusted EPS $10.85-$11.35, consensus $11.33
- The Sherwin-Williams Company Reports 2023 Year-End and Fourth Quarter Financial Results
- Sherwin-Williams reports Q4 adjusted EPS $1.81, consensus $1.80
- Notable companies reporting before tomorrow’s open
