Oppenheimer gets bullish on A.O. Smith

• A.O. Smith (AOS +0.4%) edges up after Oppenheimer initiates coverage on the stock with a "perform" rating (and no determined price target).
• "We view A.O. Smith as a premier growth story and, with identifiable upside levers to our model, including energy efficiency demand, U.S. construction, and continued execution and NPIs in China, we believe a premium valuation is sustainable," analysts said.
• Shares in the water heating equipment manufacturer are up 16.2% YTD.