Citi Maintains Buy Rating for Sherwin-Williams (SHW)

Sherwin-Williams Company (NYSE:SHW) is one of the best Materials stocks to invest in according to Hedge Funds.

On January 19, Citi analyst Patrick Cunningham maintained a Buy rating for Sherwin-Williams Company (NYSE:SHW). Moreover, the analyst raised his price target from $390 to $410, resulting in a revised upside potential of more than 18%. Cunningham sees an elevated housing forecast through 2027, which inspires confidence in the stock.

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Back on January 7, RBC Capital analyst Arun Viswanathan also maintained his Outperform rating for Sherwin-Williams Company (NYSE:SHW). He lowered his target price estimates from $405 to $395, resulting in an upside potential of around 14%.

Despite weaker consumer sentiment and lackluster construction, Viswanathan anticipates the fourth-quarter results for Sherwin-Williams Company (NYSE:SHW) to be in line with management guidance. He noted some fundamental factors that will continue to support the ongoing share gains. These include the company’s $80 million annual savings in restructuring costs, as well as effective execution of price hikes.

Sherwin-Williams Company (NYSE:SHW) develops and distributes paints, coatings, and similar products covering a range of industrial, commercial, and retail segments. Its extensive distribution network comprises self-owned stores, dealers, and online platforms. The company has a well-diversified brand portfolio backed by bulk manufacturing and an R&D focus.

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Disclosure: None. This article is originally published at Insider Monkey.