Brean Murray Carret Cuts Price Target on Watts Waters (WTS), Remains Positive on Long-Term
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Price: $375.57 +1.53%
Rating Summary:
5 Buy, 13 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
5 Buy, 13 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Brean Murray Carret & Co. is maintaining its Buy rating on shares of Watts Waters (NYSE: WTS), but is lowering its price target from $50 to $48 as earnings fell short.
The company is currently experiencing growth across all its major geographies and distribution channels, something the firm believes may continue, specifically in the North American segment. Brean Murray Carret highlights the company has in the past, "proven ability to generate record earnings in a trough environment."
The firm has tweaked its FY12 and FY13 EPS estimates lower from $2.80 and $3.06 to $2.67 and $3.01 to account for higher than previously estimated interest and tax expenses, and a slightly lower North American margin.
An analyst at Brean Murray Carret comments, "WTS remains well positioned to grow revenues and earnings substantially in 2012 given modestly favorable organic growth trends, lower copper costs and accretion flow-through from the Danfoss Socla acquisition."
For an analyst ratings summary and ratings history on Watts Waters click here. For more ratings news on Watts Waters click here.
Shares of Watts Waters closed at $41.11 yesterday.
The company is currently experiencing growth across all its major geographies and distribution channels, something the firm believes may continue, specifically in the North American segment. Brean Murray Carret highlights the company has in the past, "proven ability to generate record earnings in a trough environment."
The firm has tweaked its FY12 and FY13 EPS estimates lower from $2.80 and $3.06 to $2.67 and $3.01 to account for higher than previously estimated interest and tax expenses, and a slightly lower North American margin.
An analyst at Brean Murray Carret comments, "WTS remains well positioned to grow revenues and earnings substantially in 2012 given modestly favorable organic growth trends, lower copper costs and accretion flow-through from the Danfoss Socla acquisition."
For an analyst ratings summary and ratings history on Watts Waters click here. For more ratings news on Watts Waters click here.
Shares of Watts Waters closed at $41.11 yesterday.
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