UPDATE: Goldman Sachs Moves Sherwin-Williams to Not Rated on Conflict of Interest
Goldman Sachs moves its rating on Sherwin-Williams (NYSE: SHW) to Not Rated as it will serve as an advisor to the company on a corporate transaction. Previously, Goldman Sachs had a $160 price target on Sherwin-Williams.
Goldman Sachs commented, "The Americas Investment Review Committee has determined that the ratings and price target for Sherwin-Williams should be removed. Goldman Sachs is acting as a financial advisor in connection with a transaction that is fundamental to the reasonable analysis of the rating and price target for this stock. This “Not Rated” status will continue until such time as sufficient information is available, and/or contingencies appear resolved, to allow such analysis."
Sherwin-Williams closed at $140.84 on Friday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Tags: Goldman Sachs