JPMorgan upgraded Mohawk Industries (MHK) to Overweight from Neutral with target price of $161, up from $151. Following a “less constructive approach” to building supplies in 2024, JPMorgan is taking a more upbeat and positive view for 2025. The firm anticipates that both existing home sales and repair/remodel demand will begin to show some improvement over the next year and sees valuation as a skew towards favorable risk/reward. He upgraded Mohawk, saying the company was a “more advanced, lower-cost way” within the sector to take advantage of the recovery in repair/rebuild demand over the next year.
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