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Fly News Breaks for August 16, 2016
XYL
Aug 16, 2016 | 07:28 EDT
RBC Capital analyst Deane Dray gives Xylem's acquisition of Sensus "a gold medal." The valuation of the deal is "reasonable," and it meets Xylem's target return criteria while being consistent with its interest in smart meters, according to Dray. The analyst is enthusiastic about Sensus' involvement in smart water networks, data analytics, and new SaaS opportunities. He raised his price target on Xylem to $51 from $47 and keeps an Outperform rating on the shares.
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