Canaccord Genuity Raises Price Target on Badger Meter (BMI)

October 18, 2012 9:40 AM EDT Send to a Friend
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Price: $59.10 -0.42%

Rating Summary:
    1 Buy, 6 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 28 | New: 24
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Canaccord Genuity maintained a Hold rating on Badger Meter (NYSE: BMI) and raised its price target to $40.00 (from $36.00).

"While muni uncertainty lingers into the seasonally slower Q4 period, margins look to stay resilient and continued housing recovery supports a better outlook,” said analyst John Quealy.

He is constructive on Badger Meter’s longer-term outlook, though its valuation above peers may create increased near-term volatility.

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 $43.62 yesterday.

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