UPDATE: Goldman Sachs Lowers PT on Mohawk Industries from $57 to $52

Goldman Sachs has published a research report on Mohawk Industries MHK lowering the price target on the company. In the report, Goldman Sachs wrote, "Mohawk's 2Q11 results and outlook reflect the following: a competitive North American carpet market, earnings risk due to cost inflation and the lag in seeing effective price realization. However, on the positive side, rapid cost escalations have led the industry to implement pricing actions faster. Management confidently expects price increases from April to be fully realized in the quarter, leaving room for further cost recovery in case of further price increases towards end-3Q." Goldman Sachs rated Mohawk Industries a Neutral with a price target lowered from $57 to $52. Mohawk Industries closed Monday at $47.10.