Citi Cuts SHW Target to $385, Flags Oil-Driven Raw Material Pressure

The Sherwin-Williams Company (NYSE:SHW) is included among the 15 Best Consistent Dividend Stocks to Buy Right Now.

On April 1, Citi lowered its price recommendation on The Sherwin-Williams Company (NYSE:SHW) to $385 from $410. It reiterated a Buy rating on the shares. The firm said a spike in oil prices, along with supply disruptions, has affected most key raw materials used in coatings.

Earlier, on March 19, RBC Capital also lowered its price goal on SHW to $376 from $390 and maintained an Outperform rating. The analyst noted that the company’s end markets still appear choppy. If the Iran conflict stretches beyond 8 to 12 weeks, it could weigh on Q2 margins, the analyst said in a research note. RBC also said the company’s capital allocation approach, with a focus on buybacks, remains unchanged.

The Sherwin-Williams Company (NYSE:SHW) manufactures, develops, distributes, and sells paint, coatings, and related products. It serves professional, industrial, commercial, and retail customers, mainly across North and South America, with additional operations in the Caribbean, Europe, Asia, and Australia.

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