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

Reuters12-12 19:22
BUZZ-Jefferies starts <a href="https://laohu8.com/S/BMI">Badger Meter</a> with 'buy,' Watts Water with 'hold'

** 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%

(Reporting by Apratim Sarkar in Bengaluru)

((Apratim.Sarkar@thomsonreuters.com))

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