Jefferies Raises Numbers on AO Smith (AOS) After Solid Q1
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Price: $56.73 -0.05%
Rating Summary:
11 Buy, 18 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 7 | Down: 20 | New: 25
Rating Summary:
11 Buy, 18 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 7 | Down: 20 | New: 25
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Jefferies boosted estimates and its price target on Buy-rated AO Smith (NYSE: AOS) from $49 to $54 following solid Q1 results.
The firm comments, "1Q12 EPS were +23% YOY and above expectations. But earnings were slightly below our forecast at the op income line, offset by favorable non-op items. The conference call was, however, more positive on NA resi sales and the outlook for China better than we expected. We are raising our estimates and PT and reiterate Buy. AOS remains one of our top picks."
Q2 EPS goes from $0.65 to $0.67, FY12 EPS from $2.77 to $2.90 and FY13 from $3.22 to $3.32.
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 $47.18 yesterday.
The firm comments, "1Q12 EPS were +23% YOY and above expectations. But earnings were slightly below our forecast at the op income line, offset by favorable non-op items. The conference call was, however, more positive on NA resi sales and the outlook for China better than we expected. We are raising our estimates and PT and reiterate Buy. AOS remains one of our top picks."
Q2 EPS goes from $0.65 to $0.67, FY12 EPS from $2.77 to $2.90 and FY13 from $3.22 to $3.32.
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 $47.18 yesterday.
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