Mohawk Industries price target lowered to $135 from $140 at Truist

Truist lowered the firm’s price target on Mohawk Industries to $135 from $140 and keeps a Buy rating on the shares as part of a broader research note on Building Products. The firm sees a continuation of the low-single-digit unit declines in the second half of the year despite easy comparable as it is shaping up to be a tough recovery environment with little sign of pickup thus far and election-related effects, the analyst tells investors in a research note. Truist adds however that units are hovering around 2019 levels, which sets up well for catch-up demand when Repair-and-Remodel, or R&R, does turn given the all-time high home values and “very low” levels of unemployment.