UPDATE: Global Hunter Securities Downgrades Lennox International (LII) to Neutral

(Updated - June 10, 2015 9:47 AM EDT)

Global Hunter Securities downgraded Lennox International (NYSE: LII) from Accumulate to Neutral with a price target of $110.00 (from $112.00). Analyst Walt Liptak pointed to tepid commercial markets.

"We are lowering our Q2:15 sales and EPS estimates as a result of our belief that the commercial HVAC and refrigeration markets are slightly weaker than expected. Q2:15 could still be a strong period for residential HVAC, but a slow start to the June month suggests that residential HVAC might not offset slightly weaker commercial and refrigeration," said Liptak.

"We are lowering our Q2:15 EPS to $1.83 from our previous estimate of $1.85. With LII shares up 20% year-to-date and 26% in the last 12 months, we are lowering our rating to Neutral from Accumulate due to the valuation, which looks like a fair premium compared to the GHS Electrical Equipment group," added the analyst.

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 $113.43 yesterday.

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