BUZZ-Brokerage downgrades A.O. Smith after Q3 results

Reuters

Oct 23, 2024

** Brokerage D. A. Davidson downgrades water heater maker A.O. Smith's 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))

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Smith after Q3 results\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2024-10-23 20:50</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p>** Brokerage D. A. Davidson downgrades water heater maker A.O. 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Smith's    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))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1,"need_auth":false,"code":"91000000","status":"200"}}}