Xylem price target raised to $150 from $136 at Stifel

Stifel raised the firm’s price target on Xylem to $150 from $136 and keeps a Buy rating on the shares after the company reported a “strong” Q4 and gave “solid starting guidance” for 2024. With cost and revenue synergies to be generated from Evoqua, margin expansion over multiple years, and a “very strong balance sheet” to add inorganically, the firm remains “very bullish” on the internal opportunities and company execution against those opportunities, the analyst tells investors.