BUZZ-Jefferies starts Zurn Elkay Water Solutions with 'buy'; shares rise

Reuters12-12 19:55

** Jefferies initiates coverage of water management services firm Zurn Elkay Water Solutions ZWS.N with a "buy" rating

** PT at $58, implying an upside of 21.9% from the stock's last close

** Shares of the company up 1.3% at $48 premarket

** Brokerage states co's drinking water business is poised for strong growth as aging equipment drive demand for filtered hydration systems and recurring filter sales

** 2026 should deliver steady mid-single-digit growth, driven by backlog and institutional demand despite soft construction trends, says Jefferies

** Four of nine brokerages rate the stock "buy" or higher, five "hold"; their median PT is $51.50- data compiled by LSEG

** As of last close, stock had risen 27.6% YTD

(Reporting by Apratim Sarkar in Bengaluru)

((Apratim.Sarkar@thomsonreuters.com))

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