# Oppenheimer Cuts Lennox Rating as Earnings Recovery May Wait Until 2028 By Token Post Canonical URL: https://www.tokenpost.com/news/insights/44004 Published: 2026-10-29T23:08:51.000Z Updated: 2026-10-29T23:08:51.000Z Section: Insights & Views > The firm sees clearer signs of a turnaround around the 2027 summer cooling season. A lower-priced product line planned for 2027 could help support sales and margins. Oppenheimer lowered its rating on Lennox International Inc. (NYSE: LII) to Perform from Outperform after disappointing third-quarter results and reduced guidance, citing rising costs, tougher competition and pressure on household budgets. Oppenheimer's revised estimates indicate Lennox's earnings may not return to 2025 levels until 2028. The firm expects clearer signs of a turnaround around the 2027 summer cooling season. Lennox's distribution network and price increases could support sales and margins, while the company plans a lower-priced product line for 2027. The downgrade follows [Goldman Sachs' Oct. 14 rating changes for Lennox and Carrier](). Goldman cut both companies to Neutral from Buy and upgraded Trane Technologies to Buy from Neutral. ## Links in this article - [Goldman Sachs' Oct. 14 rating changes for Lennox and Carrier](https://www.tokenpost.com/news/business/31901)