Whirlpool Lowers Full-Year Outlook, Analyst Reiterates Buy Rating

Shares of Whirlpool are climbing in Tuesday trading after the company posted a higher quarterly profit but trimmed its full-year profit outlook. Excluding items, earnings rose to $3.04 a share from $2.72 a year ago, missing analyst expectations for earnings of $3.13 a share, according to Thomson Reuters. Bank of America Merrill Lynch analyst Denise Chai reiterated her Buy rating on the stock. She said, 'The company should continue to benefit from the attractive appliance replacement cycle and pent-up demand. Additionally, we believe the Street continues to underestimate the impact of the Indesit and Hefei acquisitions. Valuation remains attractive with shares trading at a 35% discount to peers.'