Watts Water price target raised to $320 from $300 at Stifel

Stifel raised the firm’s price target on Watts Water (WTS) to $320 from $300 and keeps a Buy rating on the shares. Strong Q3 and Q4 outlook saw the company increase FY organic revenue guidance by roughly 2.5%, margin guidance by 65 basis points, and implied EPS by about 5%, the analyst tells investors in a research note.