JPMorgan lowered the firm’s price target on Badger Meter (BMI) to $235 from $240 and keeps an Overweight rating on the shares. The firm adjusted ratings and targets in the clean energy space as part of its 2026 outlook. Within renewables, JPMorgan expects another year of outperformance for the utility-scale market, though it expects a trend towards larger, more complex projects as well as a more complex regulatory environment to lead to consolidation of upstream and downstream providers. The analyst maintains a preference for stocks with significant exposure to U.S.-based manufacturing, diversified end markets, and strong balance sheets.
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