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Fly News Breaks for May 1, 2018
MHK
May 1, 2018 | 08:21 EDT
RBC Capital analyst Michael Eisen lowered his price target on Mohawk to $284, saying that while the company's Q1 results were inline with expectations, the outlook for FY18 regarding accelerating revenue growth and margin expansion was absent. The analyst further notes inefficiencies of new facilities and intensifying startup/input costs but keeps his Outperform rating, noting that the recent weakness does not realize the company's long-term growth prospects.
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