Raymond James upgrades Mohawk Industries on replacement value
10/06/2024 14:02
** Raymond James upgrades flooring manufacturer Mohawk
Industries MHK.N to "strongbuy" from "market perform"
** Maintains PT of $140, which is 23.4% upside to the
stock's last close
** Brokerage expects comfortable profitability, positive
free cash flow, limited net debt to contribute to brokerage's
appraised asset value (AAV)/replacement value for MHK
** Says co's shares are currently below estimates for AAV,
which has acted as de facto "floor" for MHK's valuation, and
should hence continue to act as support
** Four brokerages rate the stock "buy" or higher, eleven
"hold" and two "sell"; their median PT is $125.00 - LSEG data
** Stock up 9.6% YTD
(Reporting by Aatreyee Dasgupta)
((Aatreyee.Dasgupta@thomsonreuters.com))