UPDATE: Stifel Raises Price Target On Mohawk Industries On Acquisition Of IVC

In a report published Thursday, Stifel analyst John Baugh reiterated a Buy rating on Mohawk Industries, Inc. (NYSE: MHK), and raised the price target from $155.00 to $180.00.

In the report, Stifel noted, “We learned additional details on Mohawk's acquisition of IVC, the supplier of sheet vinyl, LVT, and laminate flooring. We are adjusting our estimates to reflect the accretive nature of this transaction (although adding other offsets). We are also adjusting our target price upward to $180.”

Mohawk Industries closed on Wednesday at $163.26.