UPDATE: J.P. Morgan Lowers Price Target on Sherwin-Williams to $83
According to J.P. Morgan, Sherwin-Williams (NYSE: SHW) price target is lowered to $83.
J.P. Morgan said that the Paint Stores and the Consumer Group divisions reported positive volumes and higher prices this quarter. “We lifted our 2012 EPS forecast from $5.50 to $5.55 reflecting a lower share count. Our initial 2013 EPS projection is unchanged at $6.10. We rate SHW Neutral.”
Sherwin-Williams closed yesterday at $83.15.
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