Jefferies starts Badger Meter with 'buy,' Watts Water with 'hold'

Badger Meter

12/12/2025 11:22

** Jefferies starts coverage of fluid meter makers, rating Badger Meter BMI.N a "buy" and Watts Water Technologies WTS.N a "hold"

** Brokerage says Badger Meter, with ~30% share in North  America, is primed for strong growth as the water metering market upgrades

** Adds co's digital push and rapid software growth fuel margin gains and faster advanced metering infrastructure (AMI)-driven expansion

     ** Jefferies says WTS benefits from prior projects despite mixed construction trends

** However, Europe remains a drag for WTS, with flat growth and structural hurdles limiting improvement, says brokerage

** YTD, S&P 600- Electronic & Instruments index .SPSMCEEIS up 26%

Company
PT
Upside from the stock's last close
Badger Meter
$220
20.6%
Watts Water
$300
7.9%

 (Reporting by Apratim Sarkar in Bengaluru)

 ((Apratim.Sarkar@thomsonreuters.com))