DA Davidson analyst Matt Summerville initiated Franklin Electric with a Neutral rating and a price target of $50. The analyst says the cmpany has "solid" long-term organic growth potential but sees its current valuation as fair. Summerville adds that he may turn more constructive if the stock price retreats toward the $40 level, further stating that Franklin Electric enjoys pricing power across its businesses. The analyst also notes that Franklin Electric's Fueling Systems segment is "well positioned to benefit from several years of above-trend growth in China on the heels of government mandated upgrades to retail filling stations".