UPDATE: Stifel Reiterates Buy Rating, Raises PT on Mohawk Industries on Multiple Positive Factors

In a report published Monday, Stifel analyst John Baugh reiterated a Buy rating on

, and raised the price target from $128.00 to $150.00. In the report, Stifel noted, “Mohawk showed its powerful leverage to higher volumes, improving mix, and acquisition synergies in its second quarter. Margins should strengthen from here as all three of these issues continue to accrue for what we think will be at least the next two years. Volumes are improving in North America, mix is improving in ceramic and carpet, and the three acquisitions are early in their stages of transition with the goal of 200-400 basis points of total leverage in ‘a few years' on the base of almost $1.6 billion in revenues.” Mohawk Industries closed on Friday at $127.97.