Sherwin-Williams upgraded to Buy from Hold at Berenberg

Berenberg upgraded Sherwin-Williams (SHW) to Buy from Hold with a price target of $420, up from $321. The company’s earnings growth is about to accelerate, the analyst tells investors in a research note. PPG‘s (PPG) divestments of its U.S. and Canadian architectural paint business and the 2024 shutdown of smaller competitor Kelly-Moore have brought structural changes to the U.S. decorative paints market, and Sherwin-Williams will “quickly seize on this opportunity and accelerate its market share gains,” contends Berenberg.