Watsco price target raised to $375 from $355 at Baird

Baird analyst David Manthey raised the firm’s price target on Watsco to $375 from $355 and keeps an Outperform rating on the shares. The analyst said we see a bevy of positive regulatory catalysts that support earnings growth ahead. While typical seasonality might imply the shares pull back over the summer/fall, we’d use these opportunistically given our favorable multi-year view.