UPDATE: J.P. Morgan Raises Price Target on Lennox International to $34

According to J.P. Morgan, Lennox International LII price target is raised to $34. J.P. Morgan said that the 3Q was a positive against low resi expectations, and we credit management for the execution through the end of a challenging selling season. “After a volatile reset of expectations here, Consensus estimates are likely to be roughly unchanged post-3Q, a positive, and with the range of resi outcomes in a R-22/value-driven market coming into view, we think LII can again emerge as a value play on a depressed end market.” Lennox International closed yesterday at $29.45.