Wells Fargo initiates Lennox stock at Equal Weight on RHVAC concerns

Wells Fargo has initiated coverage on Lennox International Inc. (NYSE: LII) with an "Equal Weight" rating and a price target of $424.00, citing concerns over residential heating, ventilation, and air conditioning (RHVAC) markets. Despite the stock being down 28% over the past year, InvestingPro analysis suggests it may be undervalued. The firm noted that mixed industry fundamentals, intense competition, and a subdued volume recovery in RHVAC, which accounts for 60% of the company's profits, limi