Wachovia Raises Mohawk To 'Outperform'

New York, NY, July 18--Wachovia Securities on Friday said it raised its investment rating for Mohawk Industries Inc., the #2 maker of commercial and residential carpets in the United States, to "outperform" from "market perform." "Mohawk's good (second quarter) results depict the diversity of its business within the floor covering industry, its pricing power and its ability to manage costs in a clearly difficult environment," Wachovia said in a research note. Shares of Mohawk closed at $64.10 on the New York Stock Exchange Thursday.