In a report published Thursday, RBC Capital Markets analyst Chris Nocella downgraded the rating on Sherwin-Williams SHW from Top Pick to Outperform, but reiterated the $210.00 price target.
In the report, RBC Capital Markets noted, “We continue to believe SHW has very strong growth prospects for 2014 and beyond, with peer leading volume growth through its paint stores and 35%+ incremental margin flow-through, along with the potential Comex Mexico acquisition leading to 25%+ EPS growth. We maintain our price target of $210 /share, or 17% upside.”
Sherwin-Williams closed on Wednesday at $181.19.
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