Sherwin-Williams price target raised to $425 from $400 at BMO Capital

BMO Capital raised the firm’s price target on Sherwin-Williams to $425 from $400 and keeps an Outperform rating on the shares as part of a broader research note on U.S. Chemicals. The firm’s channel checks point to a handful of end-markets and commodities that enjoyed relative strength, while at the same time there were pockets of incremental weakness, particularly in Europe and China, the analyst tells investors in a research note. For the company, BMO notes that while demand remains choppy in Paint Stores Group due to headwinds from higher mortgage rates, share gains tied to previous investments as well as a more complete level of pricing in the quarter should help to drive growth.