Paint and coatings maker Sherwin-Williams Company (SHW) on Monday caught some positive sentiment from analysts at Goldman Sachs.
The firm maintained its “Neutral” rating on SHW but lifted its price target from $103 to $117. That new target implies a flat upside to the stock’s Friday closing price of $116.62.
A Goldman analyst commented, “Last week SHW pre-announced 1Q2012 EPS of $0.92-$0.95 vs. prior guidance of $0.56-$0.74 and consensus estimate of $0.72. SHW indicated that the outperformance of its guidance was due primarily to strong sales and operating results of the Paint Stores Group, where sales grew by approximately 20% YoY.”
Sherwin-Williams shares rose $1.02, or +0.9%, in premarket trading Monday.
The Bottom Line
Shares of Sherwin-Williams (SHW) have a 1.34% dividend yield, based on Friday’s closing stock price of $116.62. The stock has technical support in the $108-$110 price area. The shares are trading at all-time highs.
Sherwin-Williams Company (SHW) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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