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Fly News Breaks for January 11, 2019
MHK
Jan 11, 2019 | 07:13 EDT
As previously reported, RBC Capital analyst Mike Dahl downgraded Mohawk to Underperform from Sector Perform and lowered his price target to $115 from $129. The analyst notes that while lower prices would typically support the company's stock price, he sees elevated "competition pressures" weighing on its market share along with the headwinds of a negative sales mix shift. Moreover, Dahl says the lower cost luxury vinyl product competitors should benefit further if U.S.-China trade dispute is resolved soon.
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