UPDATE: Rosenblatt Upgrades Xylem (XYL) to Buy; Co. Proves Resiliency

July 14, 2020 10:44 AM EDT
Get Alerts XYL Hot Sheet
Price: $124.08 +0.67%

Rating Summary:
    8 Buy, 23 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 25 | Down: 37 | New: 115
Trade Now! 
Join SI Premium – FREE

News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
(Updated - July 14, 2020 10:46 AM EDT)

(updated to add analyst comments)

Rosenblatt analyst Scott Graham upgraded Xylem (NYSE: XYL) from Neutral to Buy with a price target of $85.00 (from $70.00) following positive pre-announcement.

The analyst commented, "XYL's positive preannounce for 2Q20 sales and earnings reflected a resilience of its water businesses, in our view, which was in question following the poor sales guidance for 2Q20 provided with 1Q20 earnings. We also saw nice expense leverage but also a much better than expect ability to clamp down on discretionary expenses; these factors are reflected in the large upgrade to the 2Q20 EPS guidance range. Separately, contract wins were announced and support a case of unchanged water and metering needs of customers. With our estimate increases combined with the stock's under performance year to date, we are upgrading XYL to BUY and increasing our PT to $85."

For an analyst ratings summary and ratings history on Xylem click here. For more ratings news on Xylem click here.

Shares of Xylem closed at $67.34 yesterday.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Upgrades

Related Entities

Earnings, Rosenblatt