These Analysts Increase Their Forecasts On Mohawk Industries After Q2 Results
Portfolio Pulse from Avi Kapoor
Mohawk Industries (NYSE:MHK) reported mixed Q2 results, with earnings per share beating estimates but sales missing expectations. The company saw a 19.5% increase in share price following the results. Analysts have raised their price targets, with Baird, Truist Securities, and B of A Securities all making upward revisions.
July 29, 2024 | 12:59 pm
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Mohawk Industries reported mixed Q2 results, with EPS of $3.00 beating estimates but sales of $2.80 billion missing expectations. The stock surged 19.5% as analysts raised their price targets.
The positive earnings surprise and subsequent analyst upgrades have led to a significant increase in the stock price. The market's reaction indicates strong investor confidence, likely driving the stock higher in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100