Mohawk Industries "buy," estimates reduced

11/20/07 - Stifel Nicolaus

NEW YORK, November 20 (newratings.com) - Analysts at Stifel Nicolaus & Company maintain their "buy" rating on Mohawk Industries Inc (MHK), while reducing their estimates for the company. The target price is set to $180.

In a research note published this morning, the analysts mention that weakness in the housing sector is likely to continue through the end of 2008. The analysts expect the company to generate about $8 in free cash flow per share in 2008, excluding acquisitions. The EPS estimates for FY07 and FY08 have been reduced from $6.23 to $6.21 and from $6.50 to $6.15, respectively.