Watsco price target raised to $380 from $375 at Baird

Baird raised the firm’s price target on Watsco to $380 from $375 and keeps an Outperform rating on the shares. The firm said they reported 2Q23 results below expectations on OEM supply chain challenges, weather, and tough comparisons. they said they would watch for pullbacks given historically challenging summer/fall trading for the shares and limited upside versus their price target.