Seaport Global analyst Michael Harrison upgraded Sherwin-Williams to Buy with a $465 price target, up from $430, saying the Valspar deal adds another layer of potential growth. Harrison said Sherwin is on track to see net debt-to-EBITDA fall below 3x in 2018, which should lead to increased buybacks and M&A long-term, increasing shareholder gains. Also, the analyst expects Sherwin to benefit from a strong remodeling market and pricing power.
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