RBC Capital analyst Michael Dahl maintains $Mohawk Industries (MHK.US)$ with a hold rating, and adjusts the target price from $106 to $132.
According to TipRanks data, the analyst has a success rate of 59.6% and a total average return of 9.3% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Mohawk Industries (MHK.US)$'s main analysts recently are as follows:
Following a previously less constructive approach to building products stocks in 2024, there's a shift towards a more optimistic and positive stance for 2025. Expected improvements in existing home sales and repair/remodel demand during the upcoming year are anticipated, with valuations seen as presenting a favorable risk/reward scenario. Mohawk Industries is identified as a cost-effective option within the sector to benefit from the anticipated rebound in repair/remodel demand.
The firm notes a continued cautious near-term outlook for builders and a selective but relatively positive stance on building products and distribution names. This is amid expectations that ongoing affordability challenges will continue to impact the sector due to prolonged high interest rates. However, it's observed that investor sentiment has become significantly more negative in recent months, which may have balanced the risk/reward scenario more effectively.
Note:
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