Mohawk Industries (MHK) PT Lowered to $190 at Loop Capital

Loop Capital analyst Laura Champine lowered the price target on Mohawk Industries (NYSE: MHK) to $190.00 (from $200.00) while maintaining a Hold rating.

The analyst commented, "We are reiterating our Hold rating on MHK and modestly reducing our price target from $200 to $190 as we cut our Q4 and beyond EPS estimates given more enduring supply-chain cost pressure than we had modeled previously. End-market demand is supporting improved pricing, but we don’t think this can keep pace with inflation in the current quarter. We are leaving our sales estimates unchanged, as we don’t see a near-term demand issue. Our Q4 operating EPS estimate of $3.32 reflects a 36-cent decrease and is now in line with consensus. We remain on the sidelines as cost-related concerns offset a robust near-term demand outlook."

You May Also Be Interested In

• Freedom Broker Upgrades Power Solutions (PSIX) to Buy
• Vertex (VRTX) PT Raised to $562 at Wolfe Research
• Wendy's (WEN) PT Raised to $8 at UBS