As previously reported, BofA upgraded Mohawk Industries to Buy from Underperform with a price target of $177, up from $120. Earnings and valuation are near a floor, contends the analyst, who sees an outlook for continued margin recovery supported by productivity initiatives and improving capital allocation. Mohawk’s flooring volume in North America is already 14% below 2019 levels and could stabilize against easy comparisons, the analyst added.
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