Stifel cuts PT on A. O. Smith ahead of Q1 results

Stifel cuts PT on water heater maker A. O. Smith AOS.N to $75 from $84; maintains 'buy' rating

Brokerage says it is assuming U.S. trade policy will lead to a "modest industrial recession" in second half of the year through first half of 2026

Says a weaker China economy biggest risk for AOS with high, largely non-discretionary, replacement revenue in the U.S. and a price-insensitive customer

AOS to report Q1 results on April 29

"We see limited impact to the business" - Stifel

5 of 15 brokerages rate the stock "buy" or higher, 9 "hold" and one "sell"; their median PT is $75 - LSEG data

As of last close, stock down 6.4% YTD