UPDATE: Mohawk Industries Receives Rating Boost from JP Morgan
Monday morning's rating reports included an upgrade by JP Morgan for Mohawk Industries (NYSE: MHK). Analyst Michael Rehaut upgraded MHK from Neutral to Overweight, upping price target from $150 to $170.
Rehaut noted, "While we are certainly 'late to the party' in the name - up 65% in 2013 vs. our larger-cap building products universe up 25% (S&P: +30%) - at the same time, we believe further solid upside exists due to several factors."
MHK closed Friday at $141.36 and currently trading at the $144 mark.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.