Stifel raised its price target on Mohawk Industries (NYSE: MHK) to $255.00 (from $230.00) while maintaining a Buy rating.

Analyst John Baugh commented, "In many ways, we view the 2017 outlook as a very typical year for Mohawk, which should demonstrate the company’s ability to continue to drive margin expansion despite certain start-up expenses and the expected loss of IP earnings. Overall, management is expecting $100+ million of EBIT headwind in 2017, but as the company has over the years, there should be productivity gains, mix enhancements, and volume growth with acquisition growth to drive earnings. We are increasing our EBITDA estimate and target price, which is now $255, based on 12x our 2017 EBITDA estimate."