Badger Meter price target raised to $209 from $208 at Stifel

Stifel analyst Nathan Jones raised the firm’s price target on Badger Meter (BMI) to $209 from $208 and keeps a Hold rating on the shares. The base business keeps on demonstrating strong growth, says the analyst, who also notes that management announced the acquisition of SmartCover, the “biggest deal in Badger’s history.” Strategically, the firm thinks the deal “makes sense” with Badger having moved into sensor/software applications around water quality and monitoring through several smaller acquisitions over the last few years, the analyst tells investors.