Lennox price target raised to $730 from $650 at Oppenheimer

Oppenheimer raised the firm’s price target on Lennox (LII) to $730 from $650 and keeps an Outperform rating on the shares. The firm notes shares traded up Wednesday after Lennox topped Q2 top/bottom line consensus and raised full year guidance, with price/mix and productivity driving margin outperformance. Near-term debate likely focuses largely on the second half of the year volume outlook. Oppenheimer believes the outlook reasonably bakes in comps and end-market/channel dynamics, and sees potential benefits in Lennox’s inventory position exiting Q2 for both product availability and cost management. Medium-term, the firm sees the company well-positioned for accelerating topline growth in FY26.