UPDATE: Jefferies Reiterates Buy Rating, Raises PT on A.O. Smith Corporation Following Group Meeting

In a report published Wednesday, Jefferies analyst R. Scott Graham reiterated a Buy rating on A.O. Smith Corporation

, and raised the price target from $80.00 to $83.00. In the report, Graham noted, “We sponsored a group meeting between the CEO and investors and are emboldened in our view that earnings visibility is high owing to multiple revenue streams. We sense 2013 has started reasonably well. We sensed nothing near term with M&A. We have edged up our forecasts and PT. AOS remains a top pick.” A.O. Smith Corporation closed on Tuesday at $73.44.