Oppenheimer upgrades A.O. Smith to Outperform on compelling risk/reward
As previously reported, Oppenheimer analyst Bryan Blair upgraded A.O. Smith (AOS) to Outperform from Perform with an $88 price target given the firm’s stance that A.O. Smith’s through-the-cycle earnings resilience/power are underappreciated, stock sentiment lingers near trough levels, and valuation now discounts North American franchise strength and ascribes minimal, realistically negative value to Rest of World assets. Oppenheimer acknowledges near-term earnings visibility is somewhat limited b