Baird upgraded Badger Meter (BMI) to Outperform from Neutral with a price target of $173, up from $165. The firm remains positive on the advanced industrial technology group, saying the sector’s Middle East exposure is minimal while cyclical indicators continue to point towards improvement in 2026 and 2027. Baird sees the recent pullback in the stocks as a buying opportunity. It cites valuation for the upgrade of Badger Meter following the recent selloff.
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