Canaccord Genuity on Sustainability & CleanTech -- Water Technologies: Q1 Preview on BMI, PNR & XYL
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Price: $128.13 -2.15%
Rating Summary:
6 Buy, 12 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
6 Buy, 12 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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Canaccord Genuity on Sustainability & CleanTech -- Water Technologies
Analyst, John Quealy, previews the upcoming quarterly releases for BMI, PNR and XYL.
Badger Meter (NYSE: BMI)(BUY): Our Q1/12 estimates increase (while Q2 gets lowered), as recent checks suggest unusually warm weather could pull forward some demand in the typically weaker Q1 period. The Racine acquisition (closed 1/31/12) keeps us favorably inclined, although we expect purchase accounting rules to limit initial accretion.
Pentair (NYSE: PNR)(HOLD): Given the pending merger with Tyco Flow (expected close by end of September), quarterly results are deemphasized, in our view. While we view the transaction as a transformational strategic move, we maintain our HOLD as much of the value into the September close looks to be captured (and catalysts appear unlikely).
Xylem (NYSE: XYL)(BUY): We continue to find Xylem well positioned to benefit from compelling secular drivers in water, with risk/reward attractive at current levels, in our view. . .We remain comfortable with our estimates given what we view to be difficult y/y weatherrelated compares for dewatering activity.
Analyst, John Quealy, previews the upcoming quarterly releases for BMI, PNR and XYL.
Badger Meter (NYSE: BMI)(BUY): Our Q1/12 estimates increase (while Q2 gets lowered), as recent checks suggest unusually warm weather could pull forward some demand in the typically weaker Q1 period. The Racine acquisition (closed 1/31/12) keeps us favorably inclined, although we expect purchase accounting rules to limit initial accretion.
Pentair (NYSE: PNR)(HOLD): Given the pending merger with Tyco Flow (expected close by end of September), quarterly results are deemphasized, in our view. While we view the transaction as a transformational strategic move, we maintain our HOLD as much of the value into the September close looks to be captured (and catalysts appear unlikely).
Xylem (NYSE: XYL)(BUY): We continue to find Xylem well positioned to benefit from compelling secular drivers in water, with risk/reward attractive at current levels, in our view. . .We remain comfortable with our estimates given what we view to be difficult y/y weatherrelated compares for dewatering activity.
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