KeyBanc Upgrades AO Smith (AOS) to Buy; Fairly Defensive Play; Sound Trajectory in China
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Price: $62.43 --0%
Rating Summary:
11 Buy, 18 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
11 Buy, 18 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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KeyBanc upgraded AO Smith (NYSE: AOS) from Hold to Buy. PT $47.
KeyBanc analyst says, "Given the recent pullback in the industrial space and broader market overall, we believe a more favorable risk-reward scenario has emerged for AOS shares. In this context, at its current valuation, we believe AOS shares offer investors somewhat of a "defensive play" for those concerned that the global recovery may be losing some momentum for the time being, particularly given a substantial amount of AOS's volume is driven by replacement demand in mature markets (largely North America) that we view as highly inelastic."
KeyBanc Updates Estimates: 2012E Raised from $2.35 to $2.40 (consensus $2.44) - 2Q11E Increased a Penny to $0.47 (consensus $0.51)
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 $39.22 yesterday.
KeyBanc analyst says, "Given the recent pullback in the industrial space and broader market overall, we believe a more favorable risk-reward scenario has emerged for AOS shares. In this context, at its current valuation, we believe AOS shares offer investors somewhat of a "defensive play" for those concerned that the global recovery may be losing some momentum for the time being, particularly given a substantial amount of AOS's volume is driven by replacement demand in mature markets (largely North America) that we view as highly inelastic."
KeyBanc Updates Estimates: 2012E Raised from $2.35 to $2.40 (consensus $2.44) - 2Q11E Increased a Penny to $0.47 (consensus $0.51)
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 $39.22 yesterday.
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