BofA analyst Steve Byrne raised the firm’s price target on Sherwin-Williams to $300 from $270 and keeps a Neutral rating on the shares after the company posted Q2 adjusted EPS “well-ahead” of the firm’s and consensus’ estimates, driven by strong pricing in all segments and higher architectural volumes. The firm has “increased conviction” in double-digit earnings growth in 2024 from lower raw material prices and strong execution, but stays at Neutral due to what it calls “modest valuation potential upside.”
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