Franklin Electric price target raised to $104 from $102 at Baird

Baird raised the firm’s price target on Franklin Electric to $104 from $102 and keeps a Neutral rating on the shares. The firm said 2Q results were below expectations, hurt by unfavorable weather and challenging comps in dewatering and fueling partially offset by healthy surface pumps and water treatment. More positively, fueling order rates improved through the quarter which support improved performance in 2H.