Baird Starts Aqua America (WTR) at Neutral
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Baird initiates coverage on Aqua America (NYSE: WTR) with a Neutral rating and a price target of $32.00.
Analyst Ben Kallo commented, "WTR is the second-largest IOU, with solid long-term prospects given its capital investment strategy and successful track record of growth through acquisitions. That said, WTR is currently overearning in several key states, making it more difficult for the company to increase revenue through capital investments. We believe this could make it difficult to outperform peers in the intermediate term, and are waiting for a clearer path to near-term revenue growth before becoming more constructive."
Shares of Aqua America closed at $29.77 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Related EntitiesRobert W Baird, Ben Kallo
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