Baird Downgrades Sherwin-Williams to Neutral, Raises Price Target to $300
Portfolio Pulse from Benzinga Newsdesk
Baird analyst Ghansham Panjabi downgraded Sherwin-Williams (NYSE:SHW) from Outperform to Neutral but increased the price target from $270 to $300.

January 03, 2024 | 11:57 am
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NEUTRAL IMPACT
Sherwin-Williams was downgraded by Baird from Outperform to Neutral, although the price target was raised from $270 to $300.
The downgrade to Neutral suggests that Baird sees limited upside potential or increased risk in Sherwin-Williams' stock, which could lead to a neutral or slightly negative short-term impact on the stock price. However, the increase in the price target to $300 indicates a positive view on the company's value, which could counterbalance the downgrade's effect. The mixed nature of the news (downgrade with a higher price target) may result in a neutral short-term impact as the market digests both pieces of information.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100