Goldman Sachs Downgrades Xylem (XYL) to Sell

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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, with a 52 week range of $22.67-$28.87.

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