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Jefferies Boosts Numbers on AO Smith (AOS) Following Investor Meeting

March 20, 2013 7:51 AM EDT Send to a Friend
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Price: $46.74 -1.14%

Rating Summary:
    13 Buy, 5 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 6
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Jefferies raised its price target on Buy-rated AO Smith (NYSE: AOS) from $80 to $83 following a Jefferies sponsored meeting between the CEO and investors.

"We sponsored a group meeting between the CEO and investors and are emboldened in our view that earnings visibility is high owing to multiple revenue streams," analyst R. Scott Graham commented. "We sense 2013 has started reasonably well. We sensed nothing near term with M&A. We have edged up our forecasts and PT. AOS remains a top pick."

The firm raised FY13 EPS estimates from $3.52 to $3.57 and FY14 EPS from $4.03 to $4.14.

For an analyst ratings summary and ratings history on AO Smith click here. For more ratings news on AO Smith click here.

Shares of AO Smith closed at $73.44 yesterday.




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