J.P. Morgan Lowers Price Target on Sherwin-Williams to $83
According to J.P. Morgan, Sherwin-Williams (NYSE: SHW) price target is lowered to $83.
J.P. Morgan said that the Paint Stores and the Consumer Group divisions reported positive volumes and higher prices this quarter. “We lifted our 2012 EPS forecast from $5.50 to $5.55 reflecting a lower share count. Our initial 2013 EPS projection is unchanged at $6.10. We rate SHW Neutral.”
highs are in. looking for 79.50. missed the short, too busy with others. Home depot was the tell, the best is baked in. hd reports a stellar q and sells off. retail run is over, and the anticipation of better times has been baked. after the next report, I would expect to see a test of 70
bittans, you have been a lucky long, I guess holding thru thru these ups and downs has paid off for you. that being said, shw has managed to get these increases thru, how much higher can they drive price for a gallon of paint? record numbers come from increases as much as 40% in the last few yrs. we are now no longer a customer, as we found ppg has as good or better quality for 30% lower cost. if they expect to keep the volumes, they will have to run the 40% sale everyday. this is most likely the high for the medium term
I guess there is some logic to this somewhere for a company that reports its highest quarterly sales and eps in the history of the company in this environment. 33 straight years of increasing dividends. Give me a break!!! Sherwin Williams should be complimented for another outstanding performance, not kicked.