Cowen Upgrades Watts Waters (WTS) to Market Perform

Cowen upgraded Watts Waters (NYSE: WTS) from Underperform to Market Perform with a price target of $55.00 (from $46.00).

Analyst Joseph Giordano commented, "After bottoming at ~$48 on 7/27, shares have rallied nearly 20% post 2Q results. As we mentioned heading into the print (click), a turnaround story is taking shape with a new team in place embarking on an ambitious plan. Near-term consensus estimates remain aggressive, in our opinion, but we believe an effective floor has been put in absent an end-market turnaround."

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 $57.43 yesterday.

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