BMO Capital lowered the firm’s price target on Sherwin-Williams to $360 from $377 and keeps an Outperform rating on the shares. The firm is reducing its FY24 EPS view by 15c to $11.28 and its FY25 EPS view by 7c to $12.94 while citing a significant number of coatings-related data points, the analyst tells investors in a research note. BMO continues to see the raws environment as benign but is taking a more conservative approach to volumes, the analyst states, adding however that the stock should outperform longer term following the recent weakness as solid pricing, soft raws and an eventual housing recovery will be amplified by market share gains.
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