BUZZ-Citigroup resumes coverage on Sherwin-Williams with a 'Buy' rating
ReutersFeb 26, 2025 2:14 PM
Citigroup resumes coverage on paint maker Sherwin-Williams SHW.N with a "buy" rating and price target of $423
New price target represents a 19.8% upside to the stock's last close
SHW had announced on February 17 that it would acquire BASF’s Brazilian architectural paints business for $1.15 billion, with the transaction expected to close 2H25
"We view the LatAm expansion opportunity that the acquisition brings favorably, but see potential investor pushback on SHW’s current limited regional exposure and challenging operating environment in Brazil," - brokerage
16 of 29 brokerages rate the stock "buy" or higher, 12 "hold" and 1 "sell"; their median PT is $408 - data compiled by LSEG
Up till last close, stock up 3.8% YTD
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