Citi analyst Patrick Cunningham raised the firm’s price target on Sherwin-Williams (SHW) to $360 from $280 and keeps a Buy rating on the shares. The firm is adjusting 2024 EPS estimates across specialty chemicals about 3% downward and trimming its lithium estimates, the analyst tells investors in a North America Specialty Chemicals and Industrial Gases 2024 outlook note. The firm’s new order of coverage top picks is PPG (PPG), Axalta Coating (AXTA) and Linde (LIN), the analyst noted.
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- Sherwin-Williams price target lowered to $280 from $300 at BMO Capital
