Xylem wins $19.6M contract Xylem announced that it has won a contract worth $19.6M to provide custom-made Flygt pumps for the Xayaburi run-of-river hydropower dam. The dam is located on the Mekong River in the town of Xayaburi. The construction of the dam allows water to be kept within the riverís course and minimally raises the water level to allow fish migration between the Upper and Lower Mekong, while providing electricity to about 1M people in Laos and 3M people in Thailand. Construction of the $3.5B hydropower dam began in 2012. Commercial operation is slated to begin in 2019.
Xylem upgraded on EPS outlook at Stifel As noted earlier, Stifel upgraded Xylem to Buy from Hold. The firm thinks that the company's EPS can rise at a 20% compound annual growth rate over the next few years, driven partly by cost cutting, strengthening fundamentals in its utility business and a bottoming of headwinds in its industrial business. The firm believes that the company's September 24 Investor Day could boost the stock. It set a $37 price target on the shares.