Mohawk Industries price target lowered to $130 from $135 at Wells Fargo

Wells Fargo lowered the firm’s price target on Mohawk Industries (MHK) to $130 from $135 and keeps an Equal Weight rating on the shares. Amidst a tough builder backdrop, the firm has detected a step-up in interest across its product/distributor coverage in recent weeks, even as questions about R&R recovery/tariffs percolate. Wells’ preference for the Q4 product EPS includes stocks with pricing power, limited discretionary R&R and attractive valuations.