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Fly News Breaks for April 9, 2019
IR, LII
Apr 9, 2019 | 06:29 EDT
Cowen analyst Gautam Khanna downgraded Lennox International (LII) to Market Perform from Outperform while raising his price target for the shares to $270 from $220. The analyst sees limited valuation upside from current levels and believes the company's Q1 results will not bring a 2019 guidance raise. Further, a 2020 earnings deceleration may weigh on Lennox shares in the second half of 2019, Khanna tells investors in a research note. He prefers shares of Ingersoll-Rand (IR) in the heating, ventilation, and air conditioning sector.
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