Cowen analyst Joseph Giordano raised the firm’s price target on Xylem (XYL) to $120 from $115 and keeps an Outperform rating on the shares. The analyst said Xylem is now firmly entrenched as the go to stock in the water sector and will likely continue to warrant a premium. Cowen said as general industrial markets cycle down, Xylem’s muni / infrastructure markets will remain resilient, and the incoming Evoqua (AQUA) business is 60+% aftermarket and service related and will act as an attractive support structure.
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Published first on TheFly
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Read More on XYL:
- Xylem raises quarterly dividend 10% to 33c per share
- Xylem sees FY23 adjusted EPS $3.00-$3.25, consensus $3.18
- Xylem reports Q4 adjusted EPS 92c, consensus 79c
- Evoqua Water downgraded on pending takeout at RBC Capital
- Evoqua Water downgraded to Neutral from Outperform at Baird
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