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Benzinga
Benzinga
Business
Shivani Kumaresan

Evercore ISI Cuts Mohawk Industries Price Target By 15%

  • Evercore ISI analyst Stephen Kim downgraded Mohawk Industries Inc (NYSE:MHK) to In-Line from Outperform with a price target of $195, down from $229.
  • The firm forecasts flat housing starts in FY22, but double-digit growth in completions and home prices, noted Kim.
  • The analyst sees a multi-year period of strong double-digit growth in remodeling spending and thinks the "coming surge in R&R spend provides a rising tide for all," but also noted that there will be "relative winners."
  • Price Action: MHK shares are trading lower by 3.01% at $171.23 on the last check Monday.
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