Mohawk Industries price target lowered to $141 from $146 at Barclays

Barclays lowered the firm’s price target on Mohawk Industries (MHK) to $141 from $146 and keeps an Equal Weight rating on the shares. As homebuilding’s “utopia looks increasingly out of reach,” Barclays no longer expects builders to :defy gravity,” the analyst tells investors in a research note. The firm thinks building products and distributors will outperform with end markets “near trough.” It moved to the sidelines on homebuilder stocks entering 2025, but expects building products and distributors to outperform homebuilders and the market. For builders, following two years of relative stock outperformance and an “unprecedented” market recovery that has occurred in spite of high rates and challenged affordability, the new construction market “has now hit a ceiling,” contends Barclays.