Baird Downgrades A.O. Smith to Neutral, Announces Price Target to $60

Baird analyst Michael Halloran downgrades A.O. Smith (NYSE:AOS) from Outperform to Neutral and announces the price target from $72 to $60.

Baird analyst Michael Halloran downgrades A.O. Smith (NYSE:AOS) from Outperform to Neutral and announces the price target from $72 to $60.

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Bitcoin completed its fourth halving event last Friday and is currently trading up 1.56% over the last 24 hours. Microstrategy CEO Michael Saylor sees the halving as a catalyst for the price of bitcoin due to decreased selling pressure which will allow the price to go up. "You're going to see $12 billion of natural selling per year converted into $6 billion of natural selling per year," Saylor said.

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