Goldman Sachs Downgrades Xylem (XYL) to Sell

June 28, 2012 8:43 AM EDT
Get Alerts XYL Hot Sheet
Price: $49.06 +0.02%

Rating Summary:
    10 Buy, 13 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Goldman Sachs downgraded Xylem (NYSE: XYL) from Neutral to Sell with a price target of $24.00 (from $29.00).

The firm cited concerns about prolonged weakness in European (30% of revs) and municipal water markets (35%). They also see less potential for M&A and said balance sheet optionality is below average.

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 $24.29 yesterday.

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