Xylem downgraded to Hold from Buy at Stifel

Stifel analyst Nathan Jones downgraded Xylem to Hold from Buy with a price target of $115, up from $113. Demand prospects remain strong for most of Xylem’s businesses and the more cyclical ones in industrial and commercial are likely to be less cyclical than people think, Jones tells investors in a research note. With that said, the analyst thinks Xylem’s current valuation "presents investors a fair risk/reward proposition." As such, he is stepping to the sidelines for now.