Stifel analyst Nathan Jones reiterated a Buy rating on the shares of Xylem Inc (NYSE: XYL) with a price target of $133.
With the merger of Evoqua Water Technologies Corp, Xylem expects to generate $140 million of cost synergies within three years through savings on duplicative public company costs, procurement, and service footprint, noted the analyst.
Related: Xylem Closes Evoqua Water Buyout, Boosting Position In Water Treatment Solutions
Xylem expects $40 million of exit run rate savings in 2023 and anticipates to more than double the exit rate at the end of 2024.
Service footprint optimization by rationalizing Xylem dewatering sites and Evoqua service sites is ...