Badger Meter price target raised to $175 from $147 at Stifel

Stifel raised the firm’s price target on Badger Meter to $175 from $147 and keeps a Hold rating on the shares. Strong growth, driven primarily by market penetration of AMI solutions and Badger’s ability to capture share, continues to outperform expectations and with only an estimated 35% market penetration the “cycle should have legs,” the analyst tells investors in a post-earnings note.