Wedbush upgraded AO Smith (NYSE: AOS) from Neutral to Outperform with a price target of $53.00 (from $49.00).

Analyst David L. Rose said, "Quarterly results provide reassurance in LT growth outlook. Despite concerns over a heated property market in China, we believe increasing demand for both hot and clean water in Asia along with a healthy U.S. housing market provides a solid multiyear backdrop for AOS. In our view, the recent pullback in shares since November provides a good entry point for long-term growth-oriented investors; and we are upgrading the shares to OUTPERFORM from NEUTRAL."

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Shares of AO Smith closed at $46.73 yesterday.