Nomura Securities Reiterates a 'Buy' on Sherwin-Williams (SHW); Q1 Review

Nomura Securities reiterates a 'Buy' on Sherwin-Williams (NYSE: SHW) price target of $160.00.

Analyst, Aram Rubinson, said, "SHW posted strong Q1 results. Comps (pre-announced) rose 20% with volumes +10-12%. SHW did a good job qualifying the weather benefit to Q1 without actually quantifying it. Strong fundamentals plus share repurchase could allow for $14-15 in EPS power a few years out. Given the prospect for continued improvement beyond 2013, we are comfortable using a price target with 11-12x near-term (2013) EBITDA. SHW remains our top investment idea. It has the potential for unit growth and global expansion that Lowe’s and Home Depot (NYSE: HD) do not. F12E/F13E EPS from $6.15/$7.00 to $7.70/$8.50, respectively.

For an analyst ratings summary and ratings history on Sherwin-Williams click here. For more ratings news on Sherwin-Williams click here.

Shares of Sherwin-Williams closed at $116.73 yesterday.

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