Wedbush Starts AO Smith (AOS) at Outperform; Undergoing Transformation in Value
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Price: $62.17 -0.53%
Rating Summary:
11 Buy, 18 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
11 Buy, 18 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Wedbush initiates coverage on AO Smith (NYSE: AOS) with an Outperform. PT $48.
Wedbush analyst said, "The growing demands for water in emerging markets such as China and India should continue to favor companies such as AO Smith. Given the recent entry into the water treatment market through the Tianlong acquisition, the divestiture of its Electrical Products division, and the substantial growth the company is undergoing in Asian water product sales, we believe AOS is becoming a much more attractive investment for water investors."
"Dominant market share provides competitive strength - As the largest player in the North American water heater market, the company has been able to rapidly introduce new products through the channel, benefit from purchasing power, and maintain some pricing power in the face of rising raw material costs."
For more ratings news on AO Smith click here and for the rating history of AO Smith click here.
Shares of AO Smith closed at $39.06 yesterday.
Wedbush analyst said, "The growing demands for water in emerging markets such as China and India should continue to favor companies such as AO Smith. Given the recent entry into the water treatment market through the Tianlong acquisition, the divestiture of its Electrical Products division, and the substantial growth the company is undergoing in Asian water product sales, we believe AOS is becoming a much more attractive investment for water investors."
"Dominant market share provides competitive strength - As the largest player in the North American water heater market, the company has been able to rapidly introduce new products through the channel, benefit from purchasing power, and maintain some pricing power in the face of rising raw material costs."
For more ratings news on AO Smith click here and for the rating history of AO Smith click here.
Shares of AO Smith closed at $39.06 yesterday.
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