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Fly News Breaks for January 5, 2017
SHW
Jan 5, 2017 | 08:43 EDT
As previously reported, Longbow downgraded Sherwin-Williams to Neutral from Buy. Analyst Dmitry Silverstein lowered his growth expectations for Sherwin's company-owned stores to reflect the continued impact of weak oil & gas markets and normalizing growth of the North American paint market. The analyst sees limited opportunity for the company to outperform consensus expectations on either the top or bottom line and expects shares to remain range-bound until the Valspar deal details are finalized and oil & gas comps get easier, perhaps in 2Q 2017.
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