RBC Capital raised the firm’s price target on Lennox to $510 from $481 and keeps a Sector Perform rating on the shares. The company’s Q1 results topped estimates on stronger margins in Building Climate Solutions, and while the updated guidance only bracketed consensus, the firm is positive on commentary that Lennox’s residential HVAC business destocking is winding down, the analyst tells investors in a research note.
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Read More on LII:
- Lennox tightens FY24 EPS view to $19.00-$20.00 from $18.50-$20.00
- Lennox reports Q1 adjusted EPS $3.47, consensus $3.16
- Lennox Reports First Quarter Results and Raises Full Year Profit Guidance
- Lennox International (LII) Q1 Earnings Cheat Sheet
- Lennox price target raised to $515 from $500 at KeyBanc
