Watsco, Inc. (WSO) Maintains Buy Rating; Estimate Raised

Analysts Keith Hughes and Judy Merrick at SunTrust Robinson Humphrey have released an update on Watsco, Inc. (NYSE: WSO).

Last week, the company released a regulatory filing detailing historic information, which included Q109 and Q209 revenue, gross profit and operating profit for Carrier Enterprises, a joint venture completed in July 2009. The results show better-than-expected revenue in these periods, higher margins in Q209, and lower margins in Q109. As a result of this information, analysts have raised 2010 EPS estimate from $2.18 to $2.21.

Analysts at SunTrust Robinson Humphrey have maintained their Buy rating and $70 price target for Watsco, Inc.