2024-01-30 21:51:35 ET
Summary
- SHW 4Q23 results exceeded expectations, with $5.25 billion in sales and $921 million in EBIT.
- The macro outlook has improved, especially with the expectation of rate cuts, leading to a more positive medium-term growth outlook for SHW.
- SHW's balance sheet strength and strategic moves, such as store openings and price increases, position it for market share gains and margin expansion.
Summary
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Sherwin-Williams: Rating Upgrade As I Turn Positive On Medium-Term Outlook