Mizuho lowered the firm’s price target on Watsco (WSO) to $400 from $525 and keeps a Neutral rating on the shares. The firm adjusted electrical equipment and multi-industry models ahead of the Q3 reports. Trade frictions and policy uncertainty are holding back some investment in the group, the analyst tells investors in a research note. Mizuho says short-cycle demand trends point to stability with better prospects in the U.S., while international markets are still dealing with de-globalization trends.
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