WSO's Strong Foothold And Market Dominance: Analyst's Neutral Stance With $360 Target
Portfolio Pulse from Lekha Gupta
Mizuho Securities analyst Brett Linzey initiated coverage on Watsco Inc (NYSE:WSO) with a Neutral rating and a price target of $360. Linzey believes WSO has a strong market position, including a large residential replacement market and a strong foothold in the Sunbelt region. He expects the company to continue gaining market share and invest in e-commerce and technology enhancement. However, he is cautious about potential adverse changes in weather, weak consumer confidence, and residential replacement cycling off-peak. Linzey expects revenues and adjusted EPS of $7.52 billion and $14.50 for 2023 and $7.85 billion and $15.00 for 2024, respectively.
July 25, 2023 | 6:08 pm
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NEUTRAL IMPACT
Mizuho Securities analyst Brett Linzey initiated coverage on Watsco Inc with a Neutral rating and a price target of $360. The analyst expects the company to continue gaining market share and invest in e-commerce and technology enhancement.
The analyst's neutral rating suggests that he does not expect significant price movement in the short term. However, his positive outlook on the company's market position and expected investments in e-commerce and technology could potentially have a positive impact on the stock in the long term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100