Deutsche Bank analyst Joe Ahlersmeyer downgraded Watts Water to Hold from Buy with a price target of $150, down from $155. The analyst sees a "full" valuation on the shares following the recent outperformance. In addition, Watts has the most significant European exposure within the water solutions category and its demand and manufacturing performance could be impacted by war and the energy crisis on the continent, Ahlersmeyer tells investors in a research note.
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