Loop Capital analyst Garik Shmois lowered the firm’s price target on Sherwin-Williams to $380 from $395 and keeps a Buy rating on the shares. The company’s Q1 results missed expectations on sluggish volumes, and it looks like the choppier than expected macro backdrop is pushing Sherwin-Williams to be more of a self-help story this year than a market driven one, the analyst tells investors in a research note. Loop adds however that positively, the company’s comps get easier in the back-half of the year, and that its share gains should become more visible as the year progresses.
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