Zinger Key Points
- While the multiples reflect headwinds, Mohawk Industries is poised to benefit from a recovery in demand.
- The company has “several margin drivers” for 2025.
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Shares of Mohawk Industries Inc MHK are trading at a 12% discount from their 5-year averages and 28% lower than their 10-year average, according to JPMorgan.
The Mohawk Industries Analyst: Analyst Michael Rehaut upgraded the rating for Mohawk Industries from Neutral to Overweight, while raising the price target from $151 to $161.
The Mohawk Industries Thesis: The company has "several margin drivers" for 2025 and a strong balance sheet, Rehaut said in the upgrade note.
Check out other analyst stock ratings.
The demand for both existing home sales as well as repair and remodel could "begin to show some improvement" this year, the analyst stated.
The multiples of most of the stocks covered in this section "already reflect a fair amount of the industry's headwinds," and any signs of improvement could trigger strong expansion in multiples, "given the still depressed level of existing home sales relative to history," he added.
Among the stocks covered, Mohawk Industries is a more inexpensive way to "benefit from our outlook for a rebound in repair/remodel demand" in 2025, the analyst further stated.
MHK Price Action: Shares of Mohawk Industries had risen by 0.03% to $118.32 at the time of publication on Friday.
Read More: Breaking Down Mohawk Industries: 8 Analysts Share Their Views
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