Lennox just upgraded at Stephens, here’s why

Stephens analyst Tommy Moll upgraded Lennox to Overweight from Equal Weight with a price target of $550, up from $415. With an “impressive” and growing track record for the fairly recently-assembled C-suite, the firm sees three emerging, underappreciated and significant earnings growth drivers and is raising its “Street-high” estimates, the analyst tells investors. The firm cites near-term price/mix tailwinds, medium-term commercial emergency replacement market reentry and longer-term residential margin/market share capture.