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UPDATE: Goldman Sachs Upgrades Whirlpool to Buy on Positive EPS Revisions

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Whirlpool Is a Buy Again (GuruFocus)

Goldman Sachs raised its rating on Whirlpool (NYSE: WHR) from Sell to Buy and raised its price target from $57 to $110.

Goldman Sachs said, "Our thesis of competitive pricing in Latin America did not come to fruition and we were wrong. Our new $110, six-month price target reflects an EPS multiple of 12X, in line with the 20-year average. Margins are going higher and we pivot our model upwards to give the company credit for the pricing/restructuring we missed but layer in incremental commodity relief that drives our estimates higher than consensus. With shares up 98% ytd, we recognize much of the easy money has been made but we still see 15%-20% near team upside."

Whirlpool closed at $93.81 on Tuesday.

Latest Ratings for WHR

DateFirmActionFromTo
Oct 2018Raymond JamesMaintainsOutperformOutperform
Oct 2018JP MorganDowngradesOverweightNeutral
Oct 2018Goldman SachsInitiates Coverage OnSell

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Posted-In: Goldman SachsAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings

 

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