Badger Meter price target raised to $190 from $180 at Maxim

Maxim analyst Tate Sullivan raised the firm’s price target on Badger Meter to $190 from $180 and keeps a Buy rating on the shares after its Q3 earnings beat. The company’s Q3 results exceeded expectations thanks to revenue growth of nearly 26%, and Badger Meter should continue to win orders for real-time water quality monitoring equipment, water meters, and associated software, the analyst tells investors in a research note. Maxim added that it expects the company to continue to generate free cash flow to fund operations, dividend growth, and periodic acquisitions.