Paint and coatings maker Sherwin-Williams Company (SHW) on Thursday caught some continued bullish sentiment from analysts at Nomura Securities.
The firm reiterated its “Buy” rating and $160 price target on SHW, which suggests a nearly 23% upside to the stock’s Wednesday closing price of $130.51.
A Nomura analyst commented, “We see Sherwin-Williams more as a brand than an industrials company. At its recent Analyst Day presentation, there were 20 instances SHW used the term ‘control’ to refer to distribution. Control creates consistency, and consistency is required to sustain a brand. Not everything is in SHW’s control. The company has seen plenty of macro pressures in recent years. While Q1 benefited from strong demand and favorable weather, we believe strong trends have persisted into Q2. We feel comfortable with our +15% same-store-sales forecast and our above-Street estimates. F12E/F13E EPS of $7.00/$8.85 vs the Street at $6.22/$7.40.”
Sherwin-Williams shares fell 73 cents, or -0.6%, in Thursday morning trading.
The Bottom Line
Shares of Sherwin-Williams (SHW) have a 1.20% dividend yield, based on last night’s closing stock price of $130.51. The stock has technical support in the $120-$124 price area. The shares are trading near all-time highs.
Sherwin-Williams Company (SHW) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.