Jefferies Raises Price Target on AO Smith (AOS)

Jefferies Raises Price Target on AO Smith (AOS)


Jefferies reported on Wednesday that it has increased its price target on water heating equipment manufacturer, A. O. Smith Corporation (AOS).

The firm, which currently has a “Buy” rating on AOS, has raised the company’s price target from $80 to $83. This price target suggests a 10% upside to the stock’s current price of $74.36.

An analyst from the firm commented, “we sponsored a group meeting between the CEO and investors and are emboldened in our view that earnings visibility is high owing to multiple revenue streams,” analyst R. Scott Graham commented. “We sense 2013 has started reasonably well. We sensed nothing near term with M&A. We have edged up our forecasts and PT. AOS remains a top pick.”

Looking ahead, the firm now sees FY2013 earnings in the range of $4.03 to $4.14 per share, up from its prior estimated range of $3.52 to $3.57 per share

A. O. Smith shares were up 92 cents, or 1.25% during Wednesday morning trading. The stock has increased 65% in the past year.

The Bottom Line
Shares of A. O. Smith Corporation (AOS) have a 1.08% yield, based on Wednesday morning’s price of $74.25.

A. O. Smith Corporation (AOS) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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