J.P. Morgan Overweight On Lennox International (LII)

J.P. Morgan Chase & Co. has an Overweight rating and a $61 price target on shares of Lennox International

. In a note to clients, J.P. Morgan writes, "The 4Q was another mixed result, as choppy margin performance continued on top of indications of a volume recovery. The two pillars of the 2011 bear case remain resi volumes and price/cost, and there is no change to our view on either. LII's reaffirm of flat price/cost supports our view that industry-wide price increases can limit the risks here against an increasingly bearish Consensus. This makes the call all about volumes, which we think turn out better than consensus, and we remain OW on this basis." Shares of LII lost 77 cents yesterday to close at $49.20, a loss of 1.5%.