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Fly News Breaks for October 23, 2019
SHW
Oct 23, 2019 | 09:17 EDT
Buckingham analyst Dmitry Silversteyn raised his price target for Sherwin-Williams to $515 from $485 and maintained a Neutral rating following Q3 results that beat expectations on stronger growth in Paint Stores with adjusted EPS of $6.65 coming in well above consensus of $6.47. In a research note to investors, Silversteyn says that with same-store sales comps likely slowing in 2020 on diminished price tailwind, current multiples may be difficult to sustain, suggesting modest downside risk.
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