Sherwin-Williams (SHW) PT Raised to $392 at Jefferies
Jefferies analyst Laurence Alexander raised the price target on Sherwin-Williams (NYSE: SHW) to $392.00 (from $370.00) while maintaining a Buy rating.
The analyst commented: "Q2 EPS of $3.70 was $0.21 above consensus and $0.18 above our estimate. 2024E EPS rose 1% at the midpoint to $11.10-$11.40 (consensus $11.37). Q3 sales are expected to increase 1-3%. Market share gains in residential likely will bolster sales through year-end, offsetting ongoing weakness in DIY. Refinish volumes remains intact, but industrial demand mostly soft. Valuation likely expands with ongoing proof of market share gains. Raise PT to $392."