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Fly News Breaks for December 4, 2018
WTS
Dec 4, 2018 | 07:48 EDT
Seaport Global analyst Walt Liptak upgraded Watts Water to Buy from Neutral and raised its price target to $90 from $83. Liptak said the selloff in shares provides a buying opportunity ahead of 2019 market share gains and profitability driven by sector growth, new products, and European restructuring. The analyst expects Watts' new product strategy that has already resulted in an acceleration in the Americas organic sales growth rate to continue into 2019 and for price increases and internal profit improvement initiatives to support earnings.
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