Lennox price target lowered to $450 from $585 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Lennox (LII) to $450 from $585 and keeps an Underweight rating on the shares. The firm, which still sees 2025 organic downside, argues that the market will get “increasingly concerned” on 2026 plans for 6% organic growth should volumes turn negative in the second half of 2025.