UBS analyst Joshua Spector upgraded Sherwin-Williams to Buy from Neutral with a price target of $402, up from $312. With inflections in U.S. residential data starting to show, Sherwin-Williams is in the “prime position to capture this growth,” the analyst tells investors in a research note. The firm says that with a higher level of investment and some market retreats from peers, Sherwin can “disproportionally win.” It believes this could lead to 15% annual earnings growth over the next few years, and support a premium multiple.
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Read More on SHW:
- Wolfe starts Sherwin-Williams at Peer Perform, sees pressure until rate cuts
- Sherwin-Williams initiated with a Peer Perform at Wolfe Research
- Sherwin-Williams upgraded to Buy from Neutral at Northcoast
- Sherwin-Williams raises dividend 18.2% to 71.5c per share
- Sherwin-Williams Declares Dividend of $0.715 per Common Share
