Evoqua Water downgraded to Neutral from Outperform at Baird

Baird analyst Michael Halloran downgraded Evoqua Water (AQUA) to Neutral from Outperform with an unchanged price target of $49 after the company entered into a definitive agreement under which Xylem (XYL) will acquire Evoqua in an all-stock transaction that reflects an implied enterprise value of approximately $7.5B.