Rosenblatt Starts AO Smith (AOS) at Neutral

November 6, 2019 4:40 PM EST
Get Alerts AOS Hot Sheet
Price: $69.81 +0.26%

Rating Summary:
    11 Buy, 19 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 25 | Down: 37 | New: 115
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Rosenblatt analyst Scott Graham initiates coverage on AO Smith (NYSE: AOS) with a Neutral rating and a price target of $52.00.

The analyst comments "AOS generated well above-peer earnings growth for the 7 years after becoming a pure-play water company in 2010. The stock rocketed. But earnings inflected down in mid-2018 owing to slower resi markets in the U.S. and ROW/China. This year, China sales / earnings have plummeted and we expect EPS of -13%. We forecast AOS's earnings to turn positive y/y in 2Q20, driven by NA Water Heater replacement, Water Treatment and Boiler sales. But NA margin is, in our view, near a peak and we don't expect China sales / earnings to recover until 2H20 and then only slowly."

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 $51.89 yesterday.



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