J.P. Morgan Maintains Overweight Rating On Watsco (WSO)

In a recent report, J.P. Morgan has maintained an overweight rating on Watsco WSO after the company's 1Q results stayed in line with estimates. In the report, J.P. Morgan said, "The “buy and build” capital allocation thesis remains in place longer term, but for now this is all about the resi selling season, for which our outlook remains positive, and we think shares are likely to outperform on any related upside." J.P. Morgan has maintained the price target of $72.00 on WSO. Watsco closed yesterday at $68.45.