Tate Sullivan, an analyst from Maxim Group, reiterated the Buy rating on Badger Meter (BMI – Research Report). The associated price target remains the same with $245.00.
Tate Sullivan has given his Buy rating due to a combination of factors that reflect Badger Meter’s strong financial performance and strategic initiatives. The company’s first-quarter results for 2025 showed revenue growth and a record-breaking gross profit margin, which exceeded expectations. This was largely driven by an increase in software-related revenue, which is a favorable shift in the company’s sales mix.
Despite potential challenges such as tariff impacts and economic uncertainties, management has maintained its gross profit margin guidance, supported by targeted price hikes. Additionally, Badger Meter’s strategic acquisition of SmartCover is expected to enhance its service offerings and contribute to future revenue growth. The company’s ability to generate free cash flow also positions it well for potential acquisitions and increased dividend payments, further justifying the Buy rating with a price target of $245.
In another report released on April 20, RBC Capital also maintained a Buy rating on the stock with a $252.00 price target.
BMI’s price has also changed slightly for the past six months – from $204.140 to $199.820, which is a -2.12% drop .