Barclays Maintains an 'Underweight' on Lennox (LII); Good Company, Tough Business
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Price: $422.01 +0.88%
Rating Summary:
11 Buy, 17 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
11 Buy, 17 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Barclays maintains an 'Underweight' on Lennox International (NYSE: LII) price target of $29.00.
Barclays analyst says, "Lennox is a well managed company, reasonably well positioned, and appears committed to shareholder value creation, in our view. But we think it's too early to get optimistic on residential HVAC markets. It's likely 2012 will be another rough year, most notably with further mix-shift down to lower-end product, and likely another year in which consumers push off "investment" in their homes. Tough weather comps and rolling off of the remaining $500 tax credit for higher-end product will make it a bit more difficult. Pent-up demand exists for sure but we see this beginning to play out more in 2013-16. We think that, eventually, LII will be a very good way to play this upcycle." (Barclays slightly lower FY EPS estimate from $2.07 to $2.05)
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 $31.99 yesterday.
Barclays analyst says, "Lennox is a well managed company, reasonably well positioned, and appears committed to shareholder value creation, in our view. But we think it's too early to get optimistic on residential HVAC markets. It's likely 2012 will be another rough year, most notably with further mix-shift down to lower-end product, and likely another year in which consumers push off "investment" in their homes. Tough weather comps and rolling off of the remaining $500 tax credit for higher-end product will make it a bit more difficult. Pent-up demand exists for sure but we see this beginning to play out more in 2013-16. We think that, eventually, LII will be a very good way to play this upcycle." (Barclays slightly lower FY EPS estimate from $2.07 to $2.05)
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 $31.99 yesterday.
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