Mizuho Lifts Sherwin-Williams (SHW) Price Target to $400 After Solid Q3 Results

Mizuho increased its price target for Sherwin-Williams (SHW) to $400 from $375, maintaining a "Buy" rating, following the company's strong third-quarter results. The upgrade reflects improved sales trends, resilient margins, and positive momentum from the consumer brands group, which countered weakness in architectural new residential coatings. Though the analysts anticipate a challenging fourth quarter due to unfavorable weather and ongoing B2B trends, they foresee strong growth in 2024 driven by higher volumes and an easier comparison.