William Blair analyst Ryan Merkel has maintained their bullish stance on AAON stock, giving a Buy rating on November 7.
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Ryan Merkel has given his Buy rating due to a combination of factors that highlight AAON’s strategic positioning and growth potential. After engaging with product engineers and investor relations at the SuperComputing 2025 event, Merkel observed that AAON is distinguishing itself from competitors by adopting a unique market approach. This strategy, coupled with a strong relationship with a major hyperscale customer, believed to be Amazon, positions AAON favorably in the market.
AAON’s commitment to delivering custom, solutions-driven thermal management has been a key differentiator. The company’s ability to consistently meet high-quality standards and delivery timelines has strengthened its reputation, leading to a high customer retention rate, particularly with BASX. Additionally, AAON’s readiness to deploy advanced technologies like liquid-to-liquid direct-to-chip cooling further underscores its innovative edge. These elements, combined with the company’s significant growth and operational evolution over the past decade, contribute to Merkel’s positive outlook and Buy rating.
Merkel covers the Industrials sector, focusing on stocks such as Aaon, Fastenal Company, and Pool. According to TipRanks, Merkel has an average return of 4.6% and a 48.43% success rate on recommended stocks.
In another report released on November 7, D.A. Davidson also reiterated a Buy rating on the stock with a $120.00 price target.