UPDATE: Nomura Upgrades Sherwin-Williams to Buy on Improved Competitive Position

In a report published Monday, Nomura analyst Aram Rubinson upgraded Sherwin-Williams

from Neutral to Buy and raised the price target from $170 to $200. In the report, Nomura reported, "We have grown to admire SHW's business prospects as well as its management team, and are thus positively inclined to the stock. SHW shares are up 7% since November ‘12, when the shares were trading at 15x our ‘14 EPS estimate, but we have since moved that estimate 5% higher. Q1 (April 18th) is not likely to be a blowout. We expect EPS to be in line with guidance at $1.08. SHW is a well-managed company in a high-return business set against a backdrop of improving sales and margin trends. SHW is also improving its competitive position via acquisition. With an estimated $15 in EPS power on the horizon, we believe SHW shares should be bought." Shares of Sherwin-Williams closed on Friday at $170.74.