Truist lowered the firm’s price target on Mohawk Industries (MHK) to $155 from $184 and keeps a Buy rating on the shares. After two quarters of reported quarter and guidance beats, the break in trend pushed shorter term money out of the stock, the analyst tells investors in a research note. Price and mix still remains a substantial negative, which will hurt EPS by $4.00+ in 2024, and could actually approach $5, the firm says.
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Read More on MHK:
- Mohawk Industries price target lowered to $134 from $140 at RBC Capital
- Mohawk Industries price target lowered to $146 from $161 at Barclays
- Mohawk Industries price target lowered to $140 from $160 at Wells Fargo
- Closing Bell Movers: Deckers up 12% after earnings beat
- Mohawk Industries reports Q3 adjusted EPS $2.90, consensus $2.89
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