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Jefferies starts Badger Meter with 'buy,' Watts Water with 'hold'

ReutersDec 12, 2025 11:22 AM

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%

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