BMO Capital analyst John McNulty raised the firm’s price target on Sherwin-Williams to $253 from $231 but keeps a Market Perform rating on the shares. The company posted a "solid" Q1 earnings beat with raw material costs finally starting to slide and its end-markets holding up relatively well in spite of a soft macro backdrop, the analyst tells investors in a research note. BMO add however that Sherwin-Williams looks relatively fairly valued, and it would wait for a pullback to get more constructive on the name.
Published first on TheFly
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- Sherwin-Williams price target raised to $285 from $260 at Loop Capital
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- Sherwin-Williams sees Q2 net sales up or down low-single digit %
- The Sherwin-Williams Company Reports 2023 First Quarter Financial Results
- Sherwin-Williams sees FY23 adjusted EPS $7.95-$8.65, consensus $8.48
