Wedbush Downgrades AO Smith (AOS) to Neutral
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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 downgraded AO Smith (NYSE: AOS) from Outperform to Neutral Thursday morning. The firm set a $51 price target.
Shares of AO Smith rose more than 6 percent on Wednesday following Q2 results and slightly raised guidance.
The firm said its lowered rating reflects "heightened risks and modest potential for upside in the near term." Wedbush pointed to "indications that meaningful upside from here may be limited as China begins to demonstrate signs of weakness and North American water heater comparisons become more difficult." The firm said it continues to like the long-term story for AO Smith amid "potential tailwinds from a housing recovery," valuation now looks appropriate.
AO Smith shares closed Wednesday's session at $52.09.
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 rose more than 6 percent on Wednesday following Q2 results and slightly raised guidance.
The firm said its lowered rating reflects "heightened risks and modest potential for upside in the near term." Wedbush pointed to "indications that meaningful upside from here may be limited as China begins to demonstrate signs of weakness and North American water heater comparisons become more difficult." The firm said it continues to like the long-term story for AO Smith amid "potential tailwinds from a housing recovery," valuation now looks appropriate.
AO Smith shares closed Wednesday's session at $52.09.
For an analyst ratings summary and ratings history on AO Smith click here. For more ratings news on AO Smith click here.
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