Watts Water price target raised to $225 from $180 at TD Cowen

TD Cowen raised the firm’s price target on Watts Water (WTS) to $225 from $180 and keeps a Buy rating on the shares. With end market conditions likely not materially different vs. the outlook framework, prices higher on anticipated tariff mitigation, and actual tariff impacts pushed, EPS should have positive skew vs. prior view, the firm argues. China tariff reality alone is over 40c positive vs. view from last quarter, TD Cowen adds. The firm believes the high end of revenue and margin assumptions is likely appropriate.