Baird Starts California Water Service Group (CWT) at Neutral

October 14, 2016 6:25 AM EDT
Get Alerts CWT Hot Sheet
Price: $33.40 +1.37%

Rating Summary:
    2 Buy, 6 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Baird initiates coverage on California Water Service Group (NYSE: CWT) with a Neutral rating and a price target of $33.00.

Analyst Ben Kallo commented, "CWT has shown consistent execution and we believe the pending final decision on the 2015 general rate case in California should enable a step up in revenue and EPS beginning in 2017. Additionally, CWT should be able to recover losses as a result of the drought in California through constructive regulatory mechanisms. That said, we are waiting for a better entry point or increased earnings visibility from the final GRC decision before becoming more constructive."

For an analyst ratings summary and ratings history on California Water Service Group click here. For more ratings news on California Water Service Group click here.

Shares of California Water Service Group closed at $32.53 yesterday.

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