Seaport Research analyst Scott Graham last night initiated coverage of Badger Meter with a Buy rating and $235 price target. The company is a “proven innovator” in the water metering market and has several competitive advantages which have generated market share gains over the last several years, the analyst tells investors in a research note. The firm sees mid-teens earnings per share growth in the second half of 2024 and 2025 for Badger Meter via its growth strategies in hardware, communications and software.
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