Zurn Elkay Water price target raised to $36 from $26 at Baird

Baird raised the firm’s price target on Zurn Elkay Water to $36 from $26 and keeps a Neutral rating on the shares. The company’s Q4 results exceeded expectations and the management’s end-market assumptions for 2024 are consistent with previous messaging, the analyst tells investors in a research note. Execution against expectations was encouraging in 2023, and Zurn Elkay’s balance sheet serves as an upside lever as the bulk of Elkay integration is now behind them, the firm added.