Jefferies analysts reduced their price target for Sherwin-Williams (NYSE:SHW) to $423 from $439, while maintaining a Buy rating. The adjustment reflects a cautious outlook on the timing of a demand recovery and slightly higher interest expense projections for 2025 and 2026.

The revised estimates stem from concerns that consensus forecasts may overly rely on a macroeconomic recovery in 2025, which the analysts believe could face downward revisions in the coming months. Despite these adjustments, Sherwin-Williams shares appear to have already priced in much of this uncertainty.

Jefferies’ model anticipates a potential rally exceeding 20% by the end of 2025, contingent on supportive Federal Reserve policies and the absence of adverse economic shocks. While near-term caution persists, Sherwin-Williams remains well-positioned to deliver long-term value for investors, backed by its robust fundamentals and resilience in the face of macroeconomic challenges, as per the analysts.