Zurn Elkay Water price target raised to $37 from $36 at Baird

Baird raised the firm’s price target on Zurn Elkay Water to $37 from $36 and keeps a Neutral rating on the shares. The company reported results consistent with the preannouncement. Its end markets are playing out largely as expected with robust growth in drinking water offsetting modest declines elsewhere in the portfolio, the analyst tells investors in a research note. The firm says estimates continue to move higher on Zurn’s margin execution, with greater conviction in the timing of end market improvement needed to turn more constructive on the shares.