BUZZ-Sherwin-Williams falls after Citi cuts PT, downgrades stock to 'neutral'** Shares of paints and coating maker Sherwin-Williams SHW.N fall 1.6% to $350.45 premarket
** Brokerage Citi Research downgrades stock to "neutral" from "buy", cuts PT to $385 from $405
** New PT implies an 8.1% premium to stock's last close
** Citi says the downgrade reflects delayed recovery in the housing market stemming from elevated rates, sluggish existing home sales and challenging homebuilder environment
** 17 of 30 brokerages rate the stock "buy" or higher, 11 "hold" and two "sell" or lower; their median PT is $400 - LSEG data
** As of last close, stock is up 4.8% YTD
(Reporting by Vallari Srivastava in Bengaluru)
((Srivastava.Vallari@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.