Wedbush Securities Expects Weaker Q1 Outlook For Watts Water Technologies

In a report published Wednesday, Wedbush Securities analyst David L. Rose reiterated a Neutral rating and $54.00 price target on

. In the report, Wedbush Securities noted, "Further discussions with management suggest weaker Q1 outlook. A follow up conversation with management revealed that a more conservative view on Q1 was in order, taking into account the seasonality of the AERCO acquisition, lost sales from the DIY line review, and greater weakness in Europe than our model had indicated." Watts Water Technologies closed on Tuesday at $55.44.