Goldman Sachs raised the firm’s price target on Watts Water to $217 from $193 but keeps a Neutral rating on the shares. The company’s Q4 results topped expectations on all metrics, but the outlook for 2024 suggests a more challenging environment ahead as the management alluded to weakening macro economic conditions, particularly in Europe, to be the headwind to organic volume growth, the analyst tells investors in a research note. Goldman Sachs further cites the company indicating that operating margins will be slightly down to flat in FY24.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on WTS:
- Watts Water sees FY24 organic revenue growth (5%)-1%, consensus $2.24B
- Watts Water sees Q1 organic revenue growth 1%-5%, consensus $535.01M
- Watts Water reports Q4 adjusted EPS $1.97, consensus $1.78
- Watts Water Welcomes Boll, Bids Farewell to Conway and Kissel
- Watts Water Strengthens Governance with Director Indemnification
