HomeMarket News RBC Capital Upgrades Mohawk While Downgrading Vulcan and Summit Materials

RBC Capital Upgrades Mohawk While Downgrading Vulcan and Summit Materials

January 12, 2024

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RBC Capital Markets has upgraded Mohawk Industries (NYSE:MHK) from Underperform to Sector Perform, as noted in the report released by analyst Mike Dahl on Friday.
Conversely, Vulcan Materials Company (NYSE:VMC) and Summit Materials (NYSE:SUM) witnessed downgrades from Outperform to Sector Perform.
On Thursday, Summit (SUM) shareholders approved a merger with Argos USA. RBC believes there are lingering questions regarding the ultimate profitability of Argo’s assets.
Possible low demand for non-residential builds presents risks, but RBC observes potential upside to Vulcan (VMC) due to “strong pricing tailwinds.”
Despite the upgrade to Mohawk (MHK), RBC still finds the building supplier’s outsized exposure to non-residential and international markets poses risks to future earnings.

Insights on Mohawk, Summit Materials, etc.

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