Wells Fargo analyst Joseph O’Dea upgraded Lennox (LII) to Equal Weight from Underweight with a price target of $575, down from $675, as part of a Q3 earnings preview. The stock’s relative valuation has seen more pressure than anticipated, the analyst tells investors in a research note. Wells expects a 2025 guidance cut for Lennox, but does not see that translating to big fiscal 2026 earnings headwinds, leaving a more balanced risk/reward at current levels.
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