RBC Capital raised the firm’s price target on Sherwin-Williams (SHW) to $380 from $341 and keeps an Outperform rating on the shares. A better than expected Q3 earnings report from RPM (RPM) contains positive readthroughs for Sherwin-Williams’s business related to infrastructure and reshoring, strong international growth, and positive price/cost, the analyst tells investors in a research note. RBC adds however that non-Auto OEM softness and mixed construction demand and DIY are the most significant risks facing the coatings group currently.
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Read More on SHW:
- Sherwin-Williams management to meet virtually with Loop Capital
- Sherwin-Williams price target raised to $385 from $340 at BMO Capital
- Sherwin-Williams upgraded to Buy from Neutral at UBS
- Wolfe starts Sherwin-Williams at Peer Perform, sees pressure until rate cuts
- Sherwin-Williams initiated with a Peer Perform at Wolfe Research
