Wells Fargo downgrades Sherwin-Williams because of rising raw materials costs due to Iran conflict
By Liz Napolitano
Published on April 10, 2026.
Well Fargo has downgraded Sherwin-Williams to equal-weight from overweight due to rising raw material costs from the Iran conflict. The bank also lowered its price target on shares to $365 from $410, indicating an 8.7% increase from the close of Thursday's close. The company's revenue is also likely to take a hit due to increased consumer scrutiny due to concerns about the U.S. economy and rising gasoline prices. The downgrade contradicts consensus on Wall Street, with only 16 analysts covering the company.
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