Xylem price target lowered to $120 from $123 at RBC Capital

RBC Capital lowered the firm’s price target on Xylem to $120 from $123 and keeps an Outperform rating on the shares. The company reported a “solid” Q3 operating beat, raised its guidance, and boosted its organic growth outlook on improved performance in the Measurement & Control Solutions segment, the analyst tells investors in a research note. Xylem is also seeing healthy demand from industrial customers in China, however utility customer activity is more mixed, the firm added.