Watsco resumed with a Neutral at UBS

UBS resumed coverage of Watsco (WSO) with a Neutral rating with a price target of $370, down from $390. Conversations with 20 Multi-Industry companies suggest Q4 reporting is unlikely to be a major catalyst, as full-year expectations are well calibrated and December commentary limits surprise potential, the analyst tells investors in a research note. Initial 2026 guidance may be conservative, with upside opportunities later, says UBS.