Canaccord Genuity Maintains a 'Buy' on Badger Meter (BMI); Adjusting Estimates as We Wait on Volumes
BMI Hot Sheet
Rating Summary:1 Buy, 5 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 19 | Down: 16 | New: 82
Canaccord Genuity maintains a 'Buy' on Badger Meter (NYSE: BMI) price target raised from $34 to $35.75.
Analyst, John Quealy, said, "Q4/11 played out generally as anticipated, with continued muni market challenges (driving under-absorption and lower margins). In line with checks, January looks to have bounced back nicely (bookings and margins), although we remain watchful ahead of our Q1 survey. We stay constructive on the medium- to longer-term opportunity, while acknowledging that valuation likely limits near-term appreciation."
"Our estimates adjust to reflect purposefully conservative municipal expectations and the addition of Racine (~$43M TTM sales). Specifically, F2012 goes to $300.0M/$1.62 (from $271.0M/$1.65). We introduce F2013 estimates at $322.0M/$1.92."
For an analyst ratings summary and ratings history on Badger Meter click here. For more ratings news on Badger Meter click here.
Shares of Badger Meter closed at $32.57 yesterday, with a 52 week range of $26.86-$42.23.
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Analyst, John Quealy, said, "Q4/11 played out generally as anticipated, with continued muni market challenges (driving under-absorption and lower margins). In line with checks, January looks to have bounced back nicely (bookings and margins), although we remain watchful ahead of our Q1 survey. We stay constructive on the medium- to longer-term opportunity, while acknowledging that valuation likely limits near-term appreciation."
"Our estimates adjust to reflect purposefully conservative municipal expectations and the addition of Racine (~$43M TTM sales). Specifically, F2012 goes to $300.0M/$1.62 (from $271.0M/$1.65). We introduce F2013 estimates at $322.0M/$1.92."
For an analyst ratings summary and ratings history on Badger Meter click here. For more ratings news on Badger Meter click here.
Shares of Badger Meter closed at $32.57 yesterday, with a 52 week range of $26.86-$42.23.
Discover Wall Street's best ratings calls with the pros - Ratings Insider Elite. Free Trial!
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