Watsco initiated with a Market Perform at Raymond James

Raymond James analyst Sam Darkatsh initiated coverage of Watsco (WSO) with a Market Perform rating and no price target While the company has an “exemplary” growth and operating track record and “high quality” management team, the firm views the equity as fairly valued at current levels, the analyst tells investors. The firm feels “uncomfortable in projecting asymmetric upside to the shares given an already lofty valuation,” the analyst added.