Canaccord Genuity Downgrades Badger Meter (BMI) to Hold; Cutting Estimates
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Price: $135.47 -0.1%
Rating Summary:
6 Buy, 12 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 14 | Down: 11 | New: 36
Rating Summary:
6 Buy, 12 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 14 | Down: 11 | New: 36
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Canaccord Genuity downgraded Badger Meter (NYSE: BMI) from Buy to Hold. PT raised from $35.75 to $40.
Analyst, John Quealy, said, "Make no mistake, we like Badger’s platform and management’s history of execution, most recently with the ~$0.20 accretive Racine deal (and we stick with our premium multiple vs. peers). That said, our channel work suggests some more variability (and pull-forward from Q2/Q3) by municipal customers, and we believe shares have more limited near-term upside now that Street estimates assume a return to “normal” customer buying patterns. We’ll revisit this thesis in our next round of checks."
Raises FY12 EPS estimate from $1.62 to $1.83 and FY13 from $2.00 to $1.62.
For an analyst ratings summary and ratings history on Badger Meter click here. For more ratings news on Badger Meter click here.
Shares of Badger Meter closed at $37.78 yesterday.
Analyst, John Quealy, said, "Make no mistake, we like Badger’s platform and management’s history of execution, most recently with the ~$0.20 accretive Racine deal (and we stick with our premium multiple vs. peers). That said, our channel work suggests some more variability (and pull-forward from Q2/Q3) by municipal customers, and we believe shares have more limited near-term upside now that Street estimates assume a return to “normal” customer buying patterns. We’ll revisit this thesis in our next round of checks."
Raises FY12 EPS estimate from $1.62 to $1.83 and FY13 from $2.00 to $1.62.
For an analyst ratings summary and ratings history on Badger Meter click here. For more ratings news on Badger Meter click here.
Shares of Badger Meter closed at $37.78 yesterday.
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