Sherwin-Williams price target lowered to $438 from $446 at RBC Capital

RBC Capital analyst Arun Viswanathan lowered the firm’s price target on Sherwin-Williams (SHW) to $438 from $446 and keeps an Outperform rating on the shares as part of a broader research note previewing Q4 results for Coatings names. The firm expects “relatively in line” performance for Q4, though the winter weather and adverse FX are seen as slight earnings headwinds in Q1, and looking out to FY25, RBC is also lowering its estimates on expected lower auto builds and fewer rate cuts that could dampen and push out an overall demand recovery, the analyst tells investors in a research note.