Argus Upgrades Sherwin-Williams (SHW) to Buy
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Argus upgraded Sherwin-Williams (NYSE: SHW) from Hold to Buy with a price target of $300.00 amid the recent pullback.
The analysts said the company is well-positioned as the housing recovery matures, home owners seek to improve the value of existing homes, and contractors build high-quality new homes.
They recently raised 2016 non-GAAP EPS forecast to $12.63 from $12.47, implying growth of 12.6% from last year’s $11.16. EPS forecast for 2017 of $13.89.
Shares of Sherwin-Williams closed at $268.74 yesterday.
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