KeyBanc analyst Aleksey Yefremov last night upgraded Sherwin-Williams to Overweight from Sector Weight with a $400 price target. The analyst recommends taking advantage of the 13% pullback in shares since the recent peak in late March. The firm acknowledges a “somewhat less confident” Q1 print and more questions about volume outlook for 2024 on higher interest rates, but believes investors should focus on Sherwin-Williams’ volume recovery story that it expects to unfold in 2025 and 2026. KeyBanc expects the company to continue taking share in architectural paint.
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Read More on SHW:
- Sherwin-Williams sees FY24 adjusted EPS $10.85-$11.35, consensus $11.44
- The Sherwin-Williams Company Reports 2024 First Quarter Financial Results
- Sherwin-Williams sees Q2 revenue growth flat to up in low-single digits
- Sherwin-Williams reports Q1 adjusted EPS $2.17, consensus $2.21
- Notable companies reporting before tomorrow’s open
