Stifel Downgrades AO Smith (AOS) to Hold
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Stifel analyst Nathan Jones downgraded AO Smith (NYSE: AOS) from Buy to Hold with a price target of $67.00 (from $65.00).
The analyst comments "We move to a Hold rating on AOS shares with a $67 target price. A.O. Smith shares had reached our previous target price of $65, and we think the risk/reward proposition for shareholders is balanced at this price with margin improvement opportunities in China and strong water quality products growth offset by steel inflation pressures and potential channel inventory destocking ahead."
Shares of AO Smith closed at $67.61 yesterday.
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