Royal Bank of Canada Lifts Sherwin-Williams Price Target to $420

Royal Bank of Canada reaffirmed its 'outperform' rating for Sherwin-Williams (NYSE:SHW) in a note to investors, citing a potential upside of 31.11% from the company's current price.

The bank's $420.00 price target is based on the specialty chemicals company's strong earnings and revenue growth, with analysts predicting a 7.5% increase in quarterly revenue compared to last year.

Other investment banks have also issued positive ratings for Sherwin-Williams, including DA Davidson, Citigroup, and JPMorgan Chase & Co., which raised its price target from $365.00 to $380.00.