| 2018-08-20 17:41:20|
LII 17:41 08/20 08/20/18
Lennox initiated with an Underweight at Morgan Stanley
Morgan Stanley analyst Joshua Pokrzywinski initiated Lennox with an Underweight rating and a price target of $201 as part of his broader research note on Electrical Equipment & Multi-Industry Industrial stocks. The analyst contends that the risk-reward on the stock is less favorable based on its valuation being near relative highs and given the later stages of its end-markets' replacement cycle. The analyst adds that he sees "few imminent catalysts" for stock price downside outside of the extended valuation.