Credit Suisse Upgrading Mohawk Industries

Credit Suisse is out with a research report on Mohawk Industries MHK and is upgrading shares to Neutral and it has a $50 price target on shares. In a note to clients, Credit Suisse writes, "We think Mohawk found more success raising prices than we previously anticipated, and valuation now reflects more realistic expectations. We are raising our target to $50 from $45 (13x our '12 est.)." Shares of MHK closed at $47.30 yesterday.