Mohawk Stock Upgraded; Stifel Lowers Estimates

New York, NY, Aug. 8, 2011 -- Analysts at Credit Suisse on Friday upgraded shares of Mohawk Industries from an "underperform" rating to a "neutral" rating.

In addition, analysts at Keybanc began coverage of Mohawk with a "hold" rating on the stock.

Meanwhile, analyst Stifel Nicolaus has lowered its third quarter earnings estimate to $0.88 from $1.02 on a lower gross margin assumptions. It also lowered full year 2011 and 2012 per share estimates from $3.40 and $3.90 to $2.96 and $3.61, respectively.

The firm cited a weak macro environment.