Xylem downgraded to Underperform from Market Perform at Raymond James

Raymond James analyst Pavel Molchanov downgraded Xylem to Underperform from Market Perform without a price target. Xylem’s industry-leading competitive position is balanced against the occasionally choppy quarterly metrics, including the lingering supply chain issues, a lack of needle-moving catalysts, especially given the company’s near-total absence of M&A activity over the past six years, and a priced-for-perfection valuation, Molchanov tells investors in a research note.