KeyBanc Upgrades Lennox International (LII) to Buy

KeyBanc upgraded Lennox International (NYSE: LII) to Buy with a price target of $38.00.

KeyBanc analyst says, "We are upgrading LII shares as we believe 2011 earnings represent trough earnings, valuation is attractive given a significant pull back in the stock, while accelerated execution of internal cost saving initiatives should drive earnings higher into 2012. In short, we believe negative sentiment around LII's residential HVAC market has peaked, while we see limited earnings risk going forward as management aggressively addresses its cost structure for a more challenged mix and demand environment."

For more ratings news on Lennox International click here and for the rating history of Lennox International click here.

Shares of Lennox International closed at $28.78 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Nvidia pitches Vera CPU to Chinese clients with August delivery target
• Sharon AI surges premarket; New Oriental gains, Medline slips
• Dollarama Inc. (DOL:CN) (DLMAF) PT Raised to Cdn$221 at BMO Capital