Watsco resumed with a Neutral at UBS

Group 1 - UBS has resumed coverage of Watsco (WSO) with a Neutral rating and a price target of $370, which is a decrease from the previous target of $390 [1] - Conversations with 20 Multi-Industry companies indicate that Q4 reporting is not expected to be a significant catalyst, as full-year expectations are already well calibrated and December commentary limits the potential for surprises [1] - Initial guidance for 2026 may be conservative, suggesting there could be upside opportunities later on [1]