Berenberg Bank Lifts Badger Meter Price Target to $105 from $95 following Investor Meeting
<p>Analysts at Berenberg Bank increased their price target on <a href='https://financialmodelingprep.com/financial-summary/BMI'>Badger Meter, Inc. (NYSE:BMI) </a>to $105 from $95 following their hosted investor meeting last week, from which they walked away more optimistic about the secular tailwinds driving growth in the water infrastructure industry over the next few years. The analysts believe a perfect storm is emerging as water companies are poised to benefit from infrastructure stimulus and more stringent compliance that specifically targets water, corporate ESG initiatives strongly influencing customer spending behavior, and accelerating adoption of smart water and digital IoT solutions, prompted by the COVID-19 pandemic.</p>
<p>According to the brokerage the company is an underappreciated promising SaaS story as the company aspires to grow its SaaS portfolio to around 10% of sales (from 5% today) over the medium term. </p>
<p>With an appetite for digital solutions increasing, the analysts believe the company can grow organic sales at approximately 6% per year. </p>

NYSE:BMI