Watts Water Technologies shares surge after Barclays upgrades rating and boosts price target by nearly 31%.
Watts Water Technologies (WTS) stock climbed over 8% to $388.68 after Barclays upgraded its rating from Equal Weight to Overweight. The firm also raised its price target to $414 from $317.
The new target reflects a nearly 31% increase from the previous $317. The upgrade follows a reassessment of the company’s growth prospects and market position.
Shares responded immediately, rising sharply in early trading on the announcement.