
Jefferies starts coverage of fluid meter makers, rating Badger Meter BMI.N a "buy" and Watts Water Technologies WTS.N a "hold"
Brokerage says Badger Meter, with ~30% share in North America, is primed for strong growth as the water metering market upgrades
Adds co's digital push and rapid software growth fuel margin gains and faster advanced metering infrastructure (AMI)-driven expansion
Jefferies says WTS benefits from prior projects despite mixed construction trends
However, Europe remains a drag for WTS, with flat growth and structural hurdles limiting improvement, says brokerage
YTD, S&P 600- Electronic & Instruments index .SPSMCEEIS up 26%
Company | PT | Upside from the stock's last close |
Badger Meter | $220 | 20.6% |
Watts Water | $300 | 7.9% |