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KeyBanc Downgrades Lennox International (LII) to Hold; Approaching Fair Valuation Given Limited Demand Visibility

January 18, 2012 7:12 AM EST
Get Alerts LII Hot Sheet
Price: $488.76 +0.43%

Rating Summary:
    11 Buy, 14 Hold, 4 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 13 | Down: 11 | New: 11
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KeyBanc downgraded Lennox International (NYSE: LII) from Buy to Hold.

KeyBanc analyst says, "Lennox shares approaching fair valuation given limited demand visibility, while cost actions appear discounted at this point. Following our recent round of channel checks, we are taking a more cautious view on the forward demand environment and believe that the stock catalyst around cost execution and the associated earnings power are now largely reflected in shares."

"Leaving our 2011 estimate of $2.02 unchanged, including an Implied 4Q11 of $0.49; Maintaining 2012 estimate of $2.40."

For an analyst ratings summary and ratings history on Lennox International click here. For more ratings news on Lennox International click here.

Shares of Lennox International closed at $38.15 yesterday.


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