Mohawk Industries price target lowered to $140 from $160 at Wells Fargo

Wells Fargo analyst Sam Reid lowered the firm’s price target on Mohawk Industries (MHK) to $140 from $160 on Friday and kept an Equal Weight rating on the shares. The firm notes shares traded off, with lack of buyback follow-on post Q2 and disappointing Q4 guide. Mohawk still offers fantastic self-help potential, but amidst near-term uncertainty the firm stays on the sidelines.