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Sherwin-Williams is poised to give up ground as the Iran war pushes up raw material costs.
Wells Fargo downgraded Sherwin-Williams to equal-weight due to rising raw material costs.
KEY POINTS
- The Iran war is causing broad-based inflation in commodity chains, impacting coatings raw materials.
- Wells Fargo lowered Sherwin-Williams' price target to $365, citing margin and revenue pressures.
- Macroeconomic headwinds from the Iran conflict could persist for three to four months or longer.
- Wells Fargo's downgrade contrasts with the majority of analysts who still rate Sherwin-Williams a buy.
COMPANIES
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