UPDATE: Longbow Research Upgrades Sherwin-Williams on Sustainable Growth, Comex Resolution

In a report published Thursday, Longbow Research analyst Dmitry Silversteyn upgraded the rating on

from Neutral to Buy, and named a $215.00 price target. In the report, Longbow Research noted, “Sherwin Williams' overweighed exposure to the North American housing and construction markets should allow the company to benefit disproportionately from continuing improvements in residential home builds and re-sale and the eventual recovery in non-residential markets over the next 3-5 years. In the short term, a benign raw material environment and expanding contribution margin can lead to stronger than expected earnings and increased guidance, returning the stock to a 20-plus forward P/E multiple range. The potential approval of the Comex acquisition by Mexican anti-trust authorities on a second go-around can generate significant benefits for SHW as the company improves its footprint in the Western U.S and Canada and materially expands its presence in the faster growing Mexican market.” Sherwin-Williams Company closed on Wednesday at $171.08.