Badger Meter (BMI) PT Raised to $233 at Stifel

Stifel analyst Nathan Jones raised the price target on Badger Meter (NYSE: BMI) to $233.00 (from $230.00) while maintaining a Hold rating.

The analyst commented, “Strong demand for AMI solutions should support continued revenue growth for Badger Meter. Over the last few years, the percentage of COGS coming from brass (copper) has declined, though management doesn’t quantify the exposure, so questions about the impact of the new copper tariffs will garner attention with copper prices up materially since the tariffs were announced. Badger has a strong track record of managing cost increases with pricing to the customer, and we have no reason to believe the company won’t simply pass these costs through to customers. The new tariffs may be enough to keep gross margin guidance in the 38%-40% range in the short term as cost uncertainty persists. The focus will likely be on organic growth to support the premium multiple BMI shares have generated over the last few years.”

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