Jefferies Reiterates a 'Buy' on AO Smith (AOS); Raising Numbers on Strong 4Q
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Price: $63.08 +1.04%
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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Jefferies reiterates a 'Buy' on AO Smith (NYSE: AOS) price target raised from $47 to $49.
Jefferies analyst says, "4Q11 earnings exceeded expectations. Quality was favorable: core sales were strong, and the margin and cash flow increased. 4Q11 did benefit from a pre-buy, which was known. 2012 guidance favorably surprised us, although the year may start slowly. We expect good execution to continue, and for a more stable NA market, growth in China and Lochinvar accretion to drive earnings in 2012. This diversification is benefiting earnings. Moreover, we believe the resi water heater market will improve in 2012 which may make the guide conservative. Stable resi conditions should, at least, offer downside protection to earnings." (Jefferies raises FY12 EPS estimate from $2.68 to $2.77)
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 $42.27 yesterday.
Jefferies analyst says, "4Q11 earnings exceeded expectations. Quality was favorable: core sales were strong, and the margin and cash flow increased. 4Q11 did benefit from a pre-buy, which was known. 2012 guidance favorably surprised us, although the year may start slowly. We expect good execution to continue, and for a more stable NA market, growth in China and Lochinvar accretion to drive earnings in 2012. This diversification is benefiting earnings. Moreover, we believe the resi water heater market will improve in 2012 which may make the guide conservative. Stable resi conditions should, at least, offer downside protection to earnings." (Jefferies raises FY12 EPS estimate from $2.68 to $2.77)
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 $42.27 yesterday.
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