Brokerage downgrades A.O. Smith after Q3 results

A O Smith

23/10/2024 13:50

** Brokerage D. A. Davidson downgrades water heater maker
A.O. Smith's  AOS.N  shares to "neutral" from "buy"
    ** Company's growth/profitability targets for China are
increasingly unattainable - brokerage
    ** In North America, residential and commercial water heater
demand appears lackluster - brokerage
    ** Company missed Q3 revenue and profit estimates on
Tuesday, hurt by lower sales of its water heaters in North
America and China
    ** 4 of 15 brokerages rate stock "buy" or higher, 10 "hold"
and 1 "sell"; median PT $85 - LSEG
    ** As of last close, stock down 5% YTD

 (Reporting by Anshuman Tripathy in Bengaluru)
 ((Anshuman.Tripathy@thomsonreuters.com))