JPMorgan analyst Jeffrey Zekauskas upgraded Sherwin-Williams to Overweight and raised his price target for the shares to $415 from $380. Raw material prices for paint and coatings companies should be lower in 2019 than in 2018, Zekauskas tells investors in a research note. As such, Sherwin-Williams' margins "should widen out as a base case," adds the analyst. Further, he believes there is positive momentum that the coatings companies have in raising prices. Zekauskas now models a 3% decrease in raw material values for 2019 for Sherwin-Williams and a positive benefit of about $245M in EBITDA versus his previous estimate.