Xylem initiated with an Overweight at JPMorgan

JPMorgan analyst Mark Strouse initiated coverage of Xylem (XYL) with an Overweight rating and $148 price target Xylem is an industry leading water technology pure play and is an attractive core long-term holding for industrial and sustainability focused investors seeking exposure to resilient and diversified water end markets, many of which carry multi-decade secular tailwinds, the analyst tells investors in a research note. The firm sees scarcity value in Xylem as one of the select few publicly traded pure play water technology companies. With the shares currently trading at a discount to historical averages, current levels offer an attractive entry point, contends JPMorgan.