Baird Starts California Water Service Group (CWT) at Neutral
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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."
Shares of California Water Service Group closed at $32.53 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Related EntitiesRobert W Baird, Earnings, Ben Kallo
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