A.O. Smith price target lowered to $67 from $75 at DA Davidson

DA Davidson lowered the firm’s price target on A.O. Smith (AOS) to $67 from $75 and keeps a Neutral rating on the shares after its Q1 earnings miss. Demand within North America continues to be sluggish within the residential market amid a stubborn housing environment, along with pressure within the WT – water technology – business, the analyst tells investors in a research note. In China, sell-through continues to be weak, with sales down a high teen’s Y/Y in the absence of stimulus and soft consumer confidence, causing the company to attempt to rebalance inventory in Q2, the firm added.