UBS Reiterates Buy Rating on Sherwin-Williams (SHW)

UBS analyst Joshua Spector reiterated a Buy rating and $420.00 price target on Sherwin-Williams (NYSE: SHW).

The analyst commented, "SHW's CFO is newer in the role (2 months) but not new to the company (22 years). Mr. Meisenzahl worked his way up and across the company over his career. He shared perspectives from a varied career and how he's approaching the CFO role. Main focus points of conversations were 1) approach to pricing, 2) cost/raw material outlook impacts from Middle East conflict, 3) end market trends (US housing focus) and catalysts to change current trends, 4) share gain opportunities, 5) margin/efficiency opportunities, and 6) capital allocation. Overall, we think the market trends so far are roughly similar to SHW's initial guidance framework, which after a couple months into the year are looking more realistic than our prior more conservative take. Though Jan/Feb are early and do not make the year, as 2Q/3Q are the largest quarters, and SHW's guidance is still more conservative than others in the industry on new builds (SHW down MSD% vs industry flattish)."

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 $319.78 yesterday.

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