Morgan Stanley raised the firm’s price target on Sherwin-Williams (SHW) to $450 from $375 and keeps an Overweight rating on the shares. The firm, which says its survey results support the firm’s share gain thesis, also notes that contractor backlogs remain above normal and are expected to improve into 2025. Q3 weather is “likely better than feared,” but perhaps still will result in a small push out of Q3 volume to Q4, the analyst added.
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Read More on SHW:
- Sherwin-Williams downgraded to Sector Weight from Overweight at KeyBanc
- Sherwin-Williams price target raised to $425 from $400 at BMO Capital
- Sherwin-Williams participates in a conference call hosted by Benchmark
- Sherwin-Williams price target raised to $400 from $386 at BMO Capital
- Sherwin-Williams price target raised to $380 from $365 at Evercore ISI