Jefferies analysts reiterated a Hold rating and $90.00 price target on AO Smith (NYSE:AOS).
The analysts comment "We hosted a call with John Altepeter, an AOS water heater representative in the Tennessee region. Key takeaways: 1) stable current demand 2) 2024 outlook for flat volume 3) pricing was well-received by the channel 4) inventory has stabilized 5) GE has not disrupted the market 6) brand loyalty and distributor relationship play a role 7) AOS has a strong commercial offering."