Wells Fargo upgrades Lennox to Overweight, raises price target to $300

As previously reported, Wells Fargo analyst Joseph O’Dea upgraded Lennox to Overweight from Equal Weight with a price target of $300, up from $238. The analyst believes earnings resilience in a residential HVAC slowdown and a path to best-in-class margins can restore the historical relative valuation premium and drive Lennox outperformance.