Lennox International's Growth Prospects: KeyBanc Upgrades to Overweight Amid Strategic Pricing and Distribution Focus
Portfolio Pulse from Nabaparna Bhattacharya
KeyBanc Capital Markets analyst Jeffrey D. Hammond upgraded Lennox International, Inc. (NYSE:LII) to Overweight from Sector Weight, with a price target of $355. The upgrade is based on the company's strategic pricing, distribution focus, and growth prospects.
June 12, 2023 | 3:57 pm
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Lennox International (LII) upgraded to Overweight by KeyBanc with a $355 price target, driven by strategic pricing, distribution focus, and growth prospects.
The upgrade to Overweight by KeyBanc is based on Lennox International's strategic pricing and distribution focus, which are expected to bolster growth. The company's direct-to-dealer model is expected to remain more insulated than peers from de-stocking pressures. Additionally, the company is expected to gain from incremental capacity in Mexico, improved factory efficiency, and repriced backlog on the commercial front. These factors are likely to have a positive short-term impact on LII's stock price.
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