
Badger Meter (BMI) Stock Forecast & Price Target
Badger Meter (BMI) Analyst Ratings
Bulls say
Badger Meter is supported by a defensive, oligopolistic U.S. water-metering franchise where replacement demand drives most sales and secular shifts from mechanical to ultrasonic meters and from manual read to AMI materially lift average selling prices. It reported a 3Q26 operating beat with EPS of $1.24 and gross margin of 41.9%, while core sales improved 5% sequentially from 2Q26 and the company maintained strong free-cash-flow conversion and a net cash balance. The outlook remains constructive because the awarded AMI project pipeline is intact, PRASA installations begin in 4Q26, and higher-margin software, water-quality acquisitions, and disciplined buybacks should support margin expansion and earnings growth into 2027.
Bears say
Badger Meter is facing a less favorable setup as the smart water meter market normalizes in 2026 after several years of outsized growth, with industry backlogs and orders now reset and growth decelerating from the mid-teens organic topline pace averaged between 2021-2024. The company also faces broad industry headwinds from rising electronic component costs and tightening semiconductor availability, while higher interest rates, municipal budget pressure, and slower AMI adoption could weigh on new deployments and margins. Given its premium valuation versus peers, any sustained growth slowdown, share loss, or poorly timed water-tech M&A could trigger material multiple compression and underperformance.
This aggregate rating is based on analysts' research of Badger Meter and is not a guaranteed prediction by Public.com or investment advice.
Badger Meter (BMI) Analyst Forecast & Price Prediction
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Badger Meter (BMI) Analyst Forecast & Price Prediction
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