Watts Water price target raised to $217 from $209 at Stifel

Stifel raised the firm’s price target on Watts Water to $217 from $209 and keeps a Hold rating on the shares. Over the past quarter, the tone in general from Diversified Industrial companies has been cautious, with concerns around choppy short cycle demand and delayed capital spending, as well as declining expectations for machinery production, says the analyst, who is “generally cautious on the group” around Q2 earnings, with a preference to be more defensively positioned.