Analysts Are Upgrading These 5 Stocks

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01. The Sherwin-Williams Company (NYSE:SHW)

Number of Hedge Fund Holders: 68

The Sherwin-Williams Company (NYSE:SHW) is an American paint and coating manufacturing company, based in Ohio. In the first quarter of 2023, the company reported an operating cash flow of $88.2 million, mainly driven by higher profits. Due to its strong cash position, the company was able to return $458.2 million to shareholders through dividends and share repurchases.

On June 26, BMO Capital analysts upgraded The Sherwin-Williams Company (NYSE:SHW) from a Market Perform rating to Outperform. The analysts cite a more favorable outlook for demand in the paints and coatings industry as the reason for the upgrade. According to the report, BMO Capital sees potential upside for The Sherwin-Williams Company (NYSE:SHW) due to a fading impact of raw materials in the near-term and indications that the housing market may not be as dire as previously anticipated. As a result of their optimistic view, BMO Capital has raised their price target for The Sherwin-Williams Company (NYSE:SHW) shares to $275 per share, up from the previous target of $269 per share.

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