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Investing.com - Stifel lowered its price target on Badger Meter (NYSE:BMI) to $208.00 from $224.00 on Monday, while maintaining a Hold rating on the stock. According to InvestingPro data, the company currently trades at a P/E ratio of 39.2x and has a market capitalization of $5.3 billion.
The research firm views Badger Meter as a high-quality, specialized industrial company that demonstrates less cyclicality than typical industrial businesses. This quality assessment is supported by the company’s GREAT financial health score from InvestingPro and impressive track record of raising dividends for 32 consecutive years.
Stifel believes the company is strategically positioned to benefit from the ongoing secular shift toward connected technology in the water utility sector, offering comprehensive solutions that include smart meters and data analytics technology.
The firm expects Badger Meter to achieve solid mid-single-digit revenue growth, with potential for better performance, over the next several years while also improving margins.
Despite these positive factors, Stifel maintained its Hold rating, citing that Badger Meter shares currently trade at a significant premium compared to both historical averages and peer companies.
In other recent news, Badger Meter reported its second-quarter 2025 earnings, revealing mixed results. The company posted earnings per share of $1.17, which fell short of the forecasted $1.23, marking a 4.88% miss. However, revenue slightly exceeded expectations, coming in at $238.1 million compared to the projected $236.95 million. RBC Capital adjusted its price target for Badger Meter to $264.00 from $284.00, citing higher-than-expected expenses from its recently acquired SmartCover business, while maintaining an Outperform rating. Stifel reiterated its Hold rating with a $224.00 price target after the earnings report, noting the earnings miss due to elevated expenses.
Additionally, JPMorgan initiated coverage on Badger Meter with an Overweight rating and a price target of $230.00, highlighting the company’s long-term appeal in water technology. In another development, Badger Meter announced an 18% increase in its quarterly dividend to $0.40 per share, marking the 33rd consecutive year of dividend increases. These recent developments reflect a combination of financial performance, strategic evaluations by analysts, and shareholder rewards.
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