RBC Capital lowered the firm’s price target on Sherwin-Williams to $370 from $380 but keeps an Outperform rating on the shares after its Q1 results and below-consensus guide. The company’s investments and ramp-up of pricing realization through 2024 should support above-market growth, while volume upside should further fuel its margin expansion, the analyst tells investors in a research note. Recovery in new residential business, strong share gains, growth in protective/marine and greater than expected capital return could also provide upside to current FY24 guidance, the firm added.
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Read More on SHW:
- Sherwin-Williams price target lowered to $380 from $395 at Loop Capital
- Sherwin-Williams price target raised to $310 from $300 at Baird
- Sherwin-Williams price target lowered to $334 from $340 at Mizuho
- Sherwin-Williams sees FY24 adjusted EPS $10.85-$11.35, consensus $11.44
- The Sherwin-Williams Company Reports 2024 First Quarter Financial Results