Xylem Inc. (XYL) has been rated "Neutral" by Citi, with a revised price target of $135, down from $140, reflecting a 29x multiple on 2025 EPS estimates of $4.65. The stock closed at $121.78 on October 31, with a 6.48% decline, but saw a 2.27% increase after market close. Xylem's Q3 2024 results showed organic growth of ~1%, below the expected 3%-5%, and a narrowed 2024 EPS outlook with a mid-point of $4.23, slightly below consensus. Despite these challenges, Citi notes promising signs such as an 8% increase in orders and ongoing EBITDA margin expansion. "While management remains confident in 2H project delays representing mainly shifts in timing, muted visibility/growth volatility could be a lingering headwind on shares," Citi stated. The report highlights Xylem's progress in integrating Evoqua and capturing synergies, with expectations of $130M+ in cost synergies by year-end.