UPDATE: J.P. Morgan Lowers Price Target on Sherwin-Williams to $83

According to J.P. Morgan, Sherwin-Williams

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.