UPDATE: KeyBanc Reinstates Sherwin-Williams (SHW) at Overweight

(updating comment)

KeyBanc analyst Kenneth Zener reinstates coverage on Sherwin-Williams (NYSE: SHW) with a Overweight rating and a price target of $805.00.

The analyst comments "We initiate Sherwin-Williams (SHW) with an Overweight rating ($805 price target), with near-term support from rising repaint demand (see Follow the Money thesis) and longer term the 1) rising base of repaint surfaces; 2) share gains (store growth, DIY gains, select industrial markets); all bouyed by 3) net pricing power enabling stable, to up margins. SHW's 1893 "Cover the Earth" moniker (centered over Cleveland) aptly reflects its growth prospects in a more rational industry. We issue FY20 EPS of $23.00 and FY21 of $25.38."

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 $694.43 yesterday.

You May Also Be Interested In

• Marvell (MRVL) PT Raised to $345 at B.Riley, bullish on new CEO
• BofA Securities Resumes Williams-Sonoma (WSM) at Buy
• Oppenheimer Starts SpaceX (SPCX) at Outperform, PT $190, 'space infrastructure appears structurally advantaged'