Xylem falls after TD Cowen cuts to 'hold' on decelerating revenue trends

Xylem

03/09/2024 12:01

** Xylem's shares  XYL.N  fall 1.2% to $135.95 premarket
    ** Brokerage TD Cowen downgrades rating on company's shares
to "hold" from "buy", maintains PT of $138
    ** Xylem makes water as well waste-water treatment products
    ** Growth in company's revenue and margins are decelerating
on lower spending in the U.S. on infrastructure - brokerage
    ** 13 brokerages rate the stock "buy" or higher, 8 "hold";
median PT $160 - LSEG
    ** Stock up 20.3% YTD as of last close

 (Reporting by Aatreyee Dasgupta)
 ((Aatreyee.Dasgupta@thomsonreuters.com))