KeyBanc analyst Michael Sison lowered her price target for Sherwin-Williams to $450 from $500 given his lower outlook for 2019. While the analyst is "disappointed" that Q4 results came in weaker for the company and his 2019 outlook is reduced, Sison is reiterates an Overweight rating on Sherwin-Williams as EPS growth in 2019 is still solid year over year and Paint Store demand in December and January accelerated.
Baird analyst Ghansham Panjabi raised the firm's price target on Sherwin-Williams to $310 from $300 and keeps a Neutral rating on the shares. The firm said in their opinion, current end-market weakness is a function of the lagged impact of previous increases in interest rates, noting that while raw material cost deflation was a partial offset, the recent up-tick in upstream input costs points toward a peak margin backdrop for Sherwin-Williams and peers.
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