Wedbush Downgrades AO Smith (AOS) to Neutral

Wedbush downgraded AO Smith (NYSE: AOS) from Outperform to Neutral with a price target of $58.00 saying valuation appears full.

Analyst David Rose commented, "Given the impressive move in the shares relative to the broader indices, we are downgrading AOS shares to NEUTRAL as we believe the valuation is full. Though we believe fundamentals remain intact, we believe much of the upside is built into the share price, with shares already gaining ~28% since April 2014 compared to ~8% for S&P Midcap. In our view, the risk/reward is evenly balanced."

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 $59.73 yesterday.

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