UPDATE: Credit Suisse Begrudgingly Upgrades Sherwin-Williams (SHW) After Stock Price Doubles

March 12, 2013 6:57 AM EDT
Get Alerts SHW Hot Sheet
Price: $283.62 +0.19%

Rating Summary:
    13 Buy, 9 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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(Updated - March 12, 2013 11:50 AM EDT)

In January of 2011, Credit Suisse initiated coverage on Sherwin-Williams (NYSE: SHW) with an Underperform rating. At the time, the stock traded at just $81.89. Since then the stock has more than doubled and now trades at $167, prompting the firm to upgrade the stock to Neutral today.

"While we can't quite get our hands around the valuation, we see little chance the name underperforms and as such we are upgrading to Neutral," wrote a Credit Suisse analyst.

Since initiating coverage, the firm raised its price target seven times. The most recent price target stands at $175 (from $161).

For an analyst ratings summary and ratings history on Sherwin-Williams (NYSE: SHW) click here. For more ratings news on Sherwin-Williams click here.

Shares of Sherwin-Williams closed at $167.73 yesterday.

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