Stifel Upgrades Xylem (XYL) to Buy
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Stifel analyst Nathan Jones upgraded Xylem (NYSE: XYL) from Hold to Buy with a price target of $75.00 (from $72.00).
The analyst comments "In an uncertain macro environment, we like the defensive characteristics of the business, internally driven margin potential, share gain opportunities that have the potential to drive growth and mitigate cyclicality, and the strong balance sheet. These characteristics, coupled with our more defensive stock recommendation posture, leads us to upgrade XYL stock to a Buy rating."
Shares of Xylem closed at $64.39 yesterday.
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