On Wednesday, analysts at Credit Suisse raised the price target on shares of Sherwin-Williams Co SHW from $240 to $260 and maintained the Outperform rating.
John McNulty finds the company is more attractive now with the contract win with Lowe’s Companies. Sherwin-Williams will be launching the HGTV HOME brand at Lowe’s, which analysts find will broaden its market share by targeting the DIY market.
“In addition to the additional EPS benefit SHW should enjoy, we believe this arrangement is a positive longer-term for the company as it may help them more effectively target the DIY market in addition to holding on to their strong position in the growing contractor markets through their own paint stores.”
Shares of Sherwin-Williams closed Wednesday at $246.80, down 1.11 percent.
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