1257 ET - Sherwin-Williams continues to face a tough setup as a housing market recovery looks further delayed, Citi analysts say in a note. With elevated mortgage rates, sluggish existing home sales and a tough environment for homebuilders, there are few signs pointing to a market recovery in the back half of the year, the analysts say. Such suppressed housing dynamics will likely pressure the coatings business in the near-term, though the company's long-term strategy remains intact as it looks to gain market share with salesforce investments and new paint stores, they say. Citi downgrades Sherwin-Williams to neutral from buy. Shares are off 4%.(kelly.cloonan@wsj.com)

(END) Dow Jones Newswires

June 13, 2025 12:57 ET (16:57 GMT)

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