Goldman Sachs upgraded Lennox International (NYSE: LII) from Neutral to Buy with a price target of $102.00. Analyst Samuel H. Eisner noted strength in residential.

"Following two quarters of modest results and reset expectations, we believe shares should outperform due to strengthening resi markets, improvements to the company’s cost structure, and lowered expectations in Refrigeration that could lead to upside surprises. In our view, we see upside to valuation as we believe that LII demonstrates EPS growth and CROCI in excess of our universe, yet trades at comparable multiples. We update 2014/15/16 EPS to $4.42/$5.50/$6.40 from $4.42/$5.32/$6.05 previously," said Eisner.

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Shares of Lennox International closed at $89.04 yesterday.