UPDATE: UBS Investment Research Raises PT on Mohawk Industries Following 2Q EPS Report

In a report published Friday, UBS Investment Research analyst David Goldberg reiterated a Buy rating on Mohawk Industries (NYSE: MHK), and raised the price target from $140.00 to $150.00.

In the report, UBS Investment Research noted, “Mohawk reported 2Q EPS of $1.84, ex one-time items related to restructuring & acqs., ahead of our $1.63 est. The outperformance was driven by better profitability, with the EBIT margin (ex charges) ~80bps ahead of our est., +$0.16 to EPS. We'd note this leverage came off a 35% increase in revenues (incl acquisitions, organic growth was 6%) vs. our 33% forecast. Finally, better than anticipated other income added $0.03 to results.”

Mohawk Industries closed on Thursday at $121.29.