- KeyBanc upgrades Sherwin-Williams (SHW) to BUY from HOLD with a $220 price target. Key points:
- As well as being a beneficiary of recovering residential paint volume, we believe an improvement in the U.S. non-residential market will offer an additional tailwind to its Paint Store Group (PSG) moving forward - we estimate non-residential is about 35-40% of PSG’s total volume.
- Contractor channel checks remain firmly positive, with many of them indicating that prices are likely moving higher in 2014.
at CNBC.com (Nov 17, 2014)