Sherwin-Williams (SHW) PT Lowered to $410 at Goldman Sachs

Goldman Sachs analyst Duffy Fischer lowered the price target on Sherwin-Williams (NYSE: SHW) to $410.00 (from $420.00) while maintaining a Buy rating.

The analyst comments "We are Buy rated on SHW with a 12-month price target of $410 (down from $420) which is based on applying a 29.8x multiple (from 30x) on our 2027 EPS estimate. The change in multiple is to reflect slightly lower peer multiples. We would point out that SHW has traded between 17x and 31x over the last six years. Downside risks include its leverage to the U.S. construction markets (remodeling, maintenance, new homes, etc), the potential for lead paint liability to deviate from several prior positive outcomes for SHW and the paint industry, and a sharp change in raw material costs."

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