A.O. Smith price target lowered to $80 from $85 at Oppenheimer

Oppenheimer analyst Bryan Blair lowered the firm’s price target on A.O. Smith (AOS) to $80 from $85 and keeps an Outperform rating on the shares following quarterly results. Despite a challenging near-term setup, A.O. Smith’s predominantly replacement-driven demand, relatively easy comparisons, self-help prospects, capital deployment optionality, and discounted valuation remain supportive, Oppenheimer says.