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Fly News Breaks for May 1, 2017
MHK
May 1, 2017 | 08:03 EDT
Stifel analyst John Baugh says that Mohawk's Q1 results "were somewhat better than the stock reaction would indicate." The analyst says that the company continues to make investments, while the increase in its raw material costs should moderate throughout the year. Baugh thinks that the company's Q2 EPS guidance miss was caused by incorrect modeling by the Street. Baugh raised his price target on the shares to $260 from $255 and keeps a Buy rating on the stock.
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