Xylem Analysts Cut Their Forecasts After Upbeat Earnings
Portfolio Pulse from Avi Kapoor
Xylem Inc. (NYSE:XYL) reported Q1 financial results surpassing expectations and raised its 2024 guidance. Adjusted earnings were 90 cents per share against an 84 cents estimate, with sales at $2.033 billion, exceeding the $1.997 billion forecast. The 2024 earnings guidance was updated to $4.10-$4.25 per share, with sales expectations of $8.5 billion. Following the announcement, Xylem's stock rose by 3.8%. Analysts from Baird, Mizuho, and Oppenheimer revised their price targets upwards.
May 03, 2024 | 1:17 pm
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Xylem Inc. reported higher-than-expected Q1 earnings and sales, raised its 2024 guidance, and saw a 3.8% stock price increase. Analysts have raised their price targets.
The positive earnings report and raised guidance for 2024 indicate strong company performance and outlook, leading to a stock price increase. Analysts' upward revisions of price targets further support the bullish sentiment, suggesting a positive short-term impact on Xylem's stock.
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