Citi analyst Patrick Cunningham reinstated coverage of Sherwin-Williams (SHW) with a Buy rating and $423 price target up from $418, after the company said it would acquire BASF’s Brazilian architectural paints business for $1.15B. The firm views the Latin America expansion opportunity that the acquisition brings favorably, but sees potential investor pushback on Sherwin-Williams’ current limited regional exposure and challenging operating environment in Brazil.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SHW:
- Sherwin-Williams boosts dividend 10.5% to 79c per share
- Sherwin-Williams’ Strategic Acquisition and Strong Financial Outlook Justify Buy Rating
- Sherwin-Williams’ Hold Rating: Balancing Growth Potential and Valuation Concerns Post-Acquisition
- Sherwin-Williams: Strong Performance, Market Leadership, and Growth Potential Amidst Challenges
- M&A News: Sherwin-Williams (SHW) Agrees to Buy BASF’s Brazilian Paint Business