Sherwin-Williams price target raised to $400 from $386 at BMO Capital

BMO Capital raised the firm’s price target on Sherwin-Williams to $400 from $386 and keeps an Outperform rating on the shares. The company’s recent Investor Day presentation highlighted its visions and drivers for continued above-market growth and continued margin expansion, with the management having expressed its confidence in its ability to deliver despite a choppy market due to its focus on value-add to its customers and its ability to hold onto pricing while driving market share volumes, the analyst tells investors in a research note. Given the expected recovery in housing end markets, the firm sees Sherwin-Williams as a multi-year story with at least mid-teens EPS growth, BMO added.