) from $66 to $78. In the report, Jefferies writes, “Mohawk Industries reported first quarter results of $0.42 per share and $29.2 million in net income versus our estimates of $0.40 and $27.8 million, respectively. Consensus estimate was $0.42 per share. We are raising our price target to $78 from $66 and increasing our EPS estimates…Lower costs, product mix, SG&A cuts and productivity gains offset commodity cost pressures. Mohawk carpet and Dal-Tile segment margins were moderately below our expectations while Unilin margins were above our estimates. Stronger than expected second quarter guidance of $0.87-$0.97, versus consensus estimate of $0.87 and our estimate of $0.90, supports our thesis for strong operating leverage during a market recovery.” Jefferies maintains a Buy rating on the stock. MHK closed at $67.48 on Friday.