Badger Meter price target raised to $230 from $218 at Argus

Argus analyst Kristina Ruggeri raised the firm’s price target on Badger Meter (BMI) to $230 from $218 and keeps a Buy rating on the shares. This well-managed company has a long record of market outperformance and dividend growth supported by increased industry adoption of advanced metering infrastructure, the analyst tells investors in a research note. Badger Meter’s balance sheet is clean, and the company has recently signaled confidence in its outlook with a 26% dividend hike, the firm added.