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Fly News Breaks for July 29, 2019
MHK
Jul 29, 2019 | 07:18 EDT
JPMorgan analyst Michael Rehaut lowered his price target for Mohawk Industries to $118 from $130 and keeps an Underweight rating on the shares following the company's Q2 results. Mohawk's multiple will remain constrained and likely contract further as the company continues to face "several fundamental headwinds" over the next few quarters, including softer demand, negative price/mix, reduced production levels and lower margin new capacity coming online, Rehaut tells investors in a research note.
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