# Evercore ISI Upgrades Mohawk Industries, Raises Price Target to $171 By Enna Lee Canonical URL: https://www.tokenpost.com/news/investing/46834 Published: 2026-11-02T19:42:16.000Z Updated: 2026-11-02T19:42:16.000Z Section: Investing > Analyst Stephen Kim lifted the target from $129. Mohawk’s separate repurchase authorization allows purchases of up to $500 million but does not require them. Evercore ISI analyst Stephen Kim upgraded Mohawk Industries to Outperform from In Line on Nov. 2 and raised the firm’s price target to $171 from $129. The rating change follows Mohawk’s announcement of a new share-repurchase authorization of up to $500 million. The board approved the program Oct. 26, and the company announced it Oct. 29. The authorization has no deadline and does not require Mohawk to buy shares. The company’s timing and purchase amounts depend on factors including cash generation, net leverage, market conditions and its share price. The new authorization followed the completion of a prior $500 million program approved in July 2025. Mohawk repurchased about 7% of its outstanding shares under that program at an average price of about $119 per share. The company’s [share-repurchase authorization]() was previously covered. Mohawk’s free cash flow was $390.4 million in the third quarter and $626.3 million for the nine months ended Oct. 3. Net debt was 0.7 times adjusted EBITDA at quarter-end, compared with a long-term target of up to 2.0 times adjusted EBITDA. ## Links in this article - [share-repurchase authorization](https://www.tokenpost.com/news/business/45207)