RBC Capital analyst Deane Dray downgraded Evoqua Water (AQUA) to Sector Perform from Outperform with a price target of $50, down from $51, citing the pending merger with Xylem (XYL). The takeout catalyst has been realized, says the analyst, who expects a mid-year deal close and "smooth" regulatory approval process.
Published first on TheFly
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Read More on AQUA:
- Evoqua Water downgraded to Neutral from Outperform at Baird
- Evoqua Water reports Q1 EPS 7c, consensus 14c
- Xylem-Evoqua deal timing a surprise, but not tie-up, says Morgan Stanley
- Xylem deal for Evoqua priced ‘high’ but ‘great’ long-term fit, says Loop Capital
- Xylem upgraded to Buy from Hold at Stifel