UBS Maintains a 'Neutral' on Watsco (WSO); Tweaking Q1
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Price: $372.85 -3.2%
Rating Summary:
6 Buy, 18 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 15 | Down: 10 | New: 12
Rating Summary:
6 Buy, 18 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 15 | Down: 10 | New: 12
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UBS Neutral Watsco (NYSE: WSO) price target of $75.00.
Analyst, Robert Barry, said, "We think a better consumer environment (confidence, claims) makes our prior 1% HVAC equipment revenue growth estimate for 1Q too low so we’re raising it to 5%. We translate this benefit
to future periods, though to a more modest degree. Warmer weather also likely helped 1Q residential new construction (RNC) so we’re also taking our Supplies growth up to 5% (was 1%). Warm weather also likely hurt furnace sales, though WSO’s exposure here is rather limited. Margins tick up on the better volume expectation, net of likely higher variable SG&A."
Raises FY12 EPS estimate from $3.18 to $3.25 and FY13 from $3.73r to $3.85.
For an analyst ratings summary and ratings history on Watsco click here. For more ratings news on Watsco click here.
Shares of Watsco closed at $70.01 yesterday.
Analyst, Robert Barry, said, "We think a better consumer environment (confidence, claims) makes our prior 1% HVAC equipment revenue growth estimate for 1Q too low so we’re raising it to 5%. We translate this benefit
to future periods, though to a more modest degree. Warmer weather also likely helped 1Q residential new construction (RNC) so we’re also taking our Supplies growth up to 5% (was 1%). Warm weather also likely hurt furnace sales, though WSO’s exposure here is rather limited. Margins tick up on the better volume expectation, net of likely higher variable SG&A."
Raises FY12 EPS estimate from $3.18 to $3.25 and FY13 from $3.73r to $3.85.
For an analyst ratings summary and ratings history on Watsco click here. For more ratings news on Watsco click here.
Shares of Watsco closed at $70.01 yesterday.
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