Lennox price target raised to $248 from $240 at Barclays

Barclays analyst Julian Mitchell raised the firm’s price target on Lennox to $248 from $240 and keeps an Equal Weight rating on the shares post the Q4 results. The most noteworthy point from the earnings call is that de-stocking is not occurring yet in the US residential HVAC market, but is expected to occur in the coming months, the analyst tells investors in a research note. The stock implication of this is not clear, adds the firm.