mhk downgrade | BAK Message Board Posts

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Msg  418358 of 421793  at  1/11/2019 5:30:04 PM  by

batman10023


mhk downgrade

i'd be a buyer again around 115 but really want this below 100 unless they can convince me that the LTV threat isn't more than a few quarter/ 1 year thing.

MHK (Dahl): Mike downgrades to Underperform from Sector Perform and cuts his PT to $115 from $129. The stock has been under significant pressure over the past year, and lower oil prices would normally help to boost margins and sentiment, but Mike expects that elevated competitive pressures and negative mix shifts will negate these potential benefits. There could also be a quicker pass-back of cost benefits in lower pricing given the demand challenges. Additionally, low cost LVT import competition, which has been taking share from MHK, will benefit in the near-term from the US-China tariff truce, creating the potential for a further build in channel inventories, even if higher tariff levels ultimately take effect. This could continue the pressure on MHK’s ability to maintain market share and margin performance, representing incremental risk to estimates


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