RBC Capital expects LyondellBasell's (LYB) Q4 results to beat expectations, driven by favorable Polypropylene prices and strong operations. It predicts that Dow Chemical's (DOW) Q4 earnings will surpass expectations driven by strong polyethylene results, while Sherwin-Williams' (SHW) Q4 results will beat due to the warm weather and the results of PPG Industries (PPG) and Axalta Coating (AXTA) will beat expectations due to a rebound in auto demand.

KeyBanc analyst Aleksey Yefremov last night upgraded Sherwin-Williams to Overweight from Sector Weight with a $400 price target. The analyst recommends taking advantage of the 13% pullback in shares since the recent peak in late March. The firm acknowledges a "somewhat less confident" Q1 print and more questions about volume outlook for 2024 on higher interest rates, but believes investors should focus on Sherwin-Williams' volume recovery story that it expects to unfold in 2025 and 2026. KeyBanc expects the company to continue taking share in architectural paint.

BMO Capital lowered the firm's price target on Sherwin-Williams to $377 from $385 but keeps an Outperform rating on the shares. The company's Q1 results disappointed, as weather and customer project delays in the seasonally light Q1 more than offset early share gains tied to competitor issues, but its expected market share gains should amplify results in 2025/26 when housing improves with eventual interest rate cuts, the analyst tells investors in a research note.

Baird analyst Ghansham Panjabi raised the firm's price target on Sherwin-Williams to $310 from $300 and keeps a Neutral rating on the shares. The firm said in their opinion, current end-market weakness is a function of the lagged impact of previous increases in interest rates, noting that while raw material cost deflation was a partial offset, the recent up-tick in upstream input costs points toward a peak margin backdrop for Sherwin-Williams and peers.

Check out this morning's top movers from around Wall Street, compiled by The Fly. UP AFTER EARNINGS... To see the rest of the story go to thefly.com. See Story Here

Sees FY24 revenue growth up in low to mid-single digits, consensus $23.78B.

Consensus for Q2 revenue is $6.36B.