Truist lowered the firm’s price target on Mohawk Industries (MHK) to $148 from $155 and keeps a Buy rating on the shares. The stock had fallen despite Q4’s better than expected results as its Q1 guidance was short of estimates amid previously announced ERP systems issues, fewer days and negative currency, the analyst tells investors in a research note. There may be early signs of a demand turn, but it will need to get stronger to push up estimates, the firm added.
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Read More on MHK:
- Mohawk Industries price target lowered to $152 from $160 at Baird
- Mohawk Industries price target lowered to $156 from $161 at JPMorgan
- Mohawk Industries price target lowered to $150 from $152 at BofA
- Cautious Hold Recommendation for Mohawk Amid Operational and Market Challenges
- Mohawk Industries price target lowered to $125 from $130 at Barclays
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