Canaccord Genuity Maintains a 'Buy' on Xylem (XYL); Cutting Price Target Ahead of Quarterly Results

July 12, 2012 9:22 AM EDT
Get Alerts XYL Hot Sheet
Price: $49.07 +1.32%

Rating Summary:
    10 Buy, 13 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 22 | Down: 33 | New: 34
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Canaccord Genuity maintains a 'Buy' on Xylem (NYSE: XYL) price target of $30.00 (from $33.00).

Analyst, John Quealy, said, "We continue to find Xylem well positioned to benefit from compelling secular drivers in water, with risk/reward attractive at current levels in our view. FX headwinds look to accelerate near-term given a rapidly depreciating Euro (guidance factors 1.31 vs. current ~1.23), while investors stay focused on European concerns. We look for core business trends to remain resilient overall, as weighting toward “break and fix” activity and strong base of recurring revs provides stability. M&A remains a distinct opportunity (most likely in analytics/dewatering), while Industrial should continue to benefit from global mining and dewatering activities."

For an analyst ratings summary and ratings history on Xylem click here. For more ratings news on Xylem click here.

Shares of Xylem closed at $23.93 yesterday.

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