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Watsco price target raised to $460 from $420 at Baird
The Fly

Watsco price target raised to $460 from $420 at Baird

Baird raised the firm’s price target on Watsco to $460 from $420 and keeps an Outperform rating on the shares. The firm said 1Q24 results missed on revenue/EPS but a strong gross margin carried the day in a seasonally less significant period, and from here, Baird sees accelerating price/mix and volume momentum driven by full OEM price realization, initial A2L rollout at higher pricing, and easy comps.

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