UPDATE: Cowen Downgrades Lennox International (LII) to Market Perform
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(Updated - April 9, 2019 6:11 AM EDT)
(updated to add analyst comments)
Cowen analyst Gautam Khanna downgraded Lennox International (NYSE: LII) from Outperform to Market Perform with a $270 price target (from $220).
The analyst commented, "We are downgrading our rating on LII's stock to Market Perform from Outperform, given limited valuation upside & decelerating C20 "adj. EPS" gain from non-repeat of C19's favorable insurance mismatch. Also, as with prior Q1s, LII's full year sales/EPS guidance is unlikely to rise on the Q1 print. We prefer IR in the HVAC sector."
Shares of Lennox International closed at $276.36 yesterday.
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