Badger Meter initiated with a Buy at Jefferies

Jefferies initiated coverage of Badger Meter (BMI) with a Buy rating and $220 price target Badger Meter is a leader in smart water metering and the recent slowdown in growth is due to tough comps and a higher base, not reflective of a demand slowdown, the analyst tells investors. The recent pullback provides “an attractive entry point for the name that compounds HSD organic growth,” the analyst added.