Truist analyst Keith Hughes raised the firm’s price target on Mohawk Industries to $184 from $135 and keeps a Buy rating on the shares after its Q2 earnings beat. The quarter saw falling inputs and productivity offsetting continued weak price/mix, causing margin gains, the analyst tells investors in a research note. Volumes were flat to modestly up in all regions, and Mohawk commented that half their products are actually seeing volume gains, which was a “surprisingly positive point” given weakness in the firm’s coverage, Truist added.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MHK:
Questions or Comments about the article? Write to editor@tipranks.com