Mohawk Industries upgraded to Equal Weight from Underweight at Wells Fargo

Wells Fargo upgraded Mohawk Industries to Equal Weight from Underweight with a price target of $160, up from $140. The company’s “self-help narrative is too powerful to ignore,” the analyst tells investors in a research note. While a recovery in flooring could prove elusive, Mohawk’s risk/reward now skews neutral-to-positive versus neutral-to-negative previously, contends the firm.