Brean Capital Downgrades Watts Waters (WTS) to Hold
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Price: $355.54 -0.06%
Rating Summary:
5 Buy, 13 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 4 | Down: 7 | New: 30
Rating Summary:
5 Buy, 13 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 4 | Down: 7 | New: 30
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Brean Capital downgraded Watts Waters (NYSE: WTS) from Buy to Hold.
The firm comments, "We are downgrading the shares of Watts Water Technologies from Buy to Hold based on valuation. The shares are trading beyond our fair value estimate of $42, and we are unwilling to lift our forward estimates or multiple assumptions at this time. We remain optimistic on the company's future prospects, but choose to move to a more neutral stance until valuation or end market conditions become more compelling."
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 $44.58 yesterday.
The firm comments, "We are downgrading the shares of Watts Water Technologies from Buy to Hold based on valuation. The shares are trading beyond our fair value estimate of $42, and we are unwilling to lift our forward estimates or multiple assumptions at this time. We remain optimistic on the company's future prospects, but choose to move to a more neutral stance until valuation or end market conditions become more compelling."
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 $44.58 yesterday.
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