Evercore ISI Cuts Mohawk Industries Price Target By 15%

  • Evercore ISI analyst Stephen Kim downgraded Mohawk Industries Inc MHK to In-Line from Outperform with a price target of $195, down from $229.
  • The firm forecasts flat housing starts in FY22, but double-digit growth in completions and home prices, noted Kim.
  • The analyst sees a multi-year period of strong double-digit growth in remodeling spending and thinks the "coming surge in R&R spend provides a rising tide for all," but also noted that there will be "relative winners."
  • Price Action: MHK shares are trading lower by 3.01% at $171.23 on the last check Monday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorNewsDowngradesPrice TargetAnalyst RatingsBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!