Xylem price target raised to $165 from $146 at Argus

Argus raised the firm’s price target on Xylem to $165 from $146 and keeps a Buy rating on the shares after its Q1 earnings beat and guidance raise earlier this month. The company stands to benefit from trends in water conservation, drinking water sanitation, the acquisition of water technology company Evoqua, and government regulation, the analyst tells investors in a research note. The firm also sees Xylem expanding its margins from new growth opportunities while raising its 2024 adjusted EPS estimate to $4.21 from $4.10 and its 2025 estimate to $4.71 from $4.48.