Badger Meter price target lowered to $160 from $190 at JPMorgan

JPMorgan lowered the firm’s price target on Badger Meter (BMI) to $160 from $190 and keeps an Overweight rating on the shares following a revenue and earnings miss in Q1. The miss was driven by a previously flagged project pacing dynamic and an “incremental, unexpected” softness in short-cycle order rates, but management was “emphatic” that neither reflects a structural change in underlying demand or competitive positioning, the analyst tells investors.