Mohawk Industries: Upgrade To Buy On Clearer View Of Recovery

Following my coverage of Mohawk Industries (NYSE:MHK) in Feb'24, which I recommended a hold rating as I wanted to see more signs of recovery before adjusting my recommendation to a buy, this post is to provide an update on my thoughts on the business and stock. I shift my rating from hold to buy as I see clearer signs of recovery ahead, and the market should start to upgrade MHK valuation as it continues to print sequential improvements in sales. Investment thesis Just a couple of weeks ago, MHK released it ...