Barclays Maintains an 'Overweight' on American Water (AWK); Raising Estimates and Price Target

Barclays maintains an 'Overweight' on American Water (NYSE: AWK) price target raised from $33 to $34.

Barclays analyst says, "After the market close on Monday, AWK increased its 2011 operating earnings guidance from $1.65-$1.75 to $1.75-$1.82. Based on the factors cited below, we are increasing our estimates for 2011/2012/2013 from $1.73/$1.82/$1.98 to $1.77/$1.86/$2.02. We are also raising our price target from $33 to $34, consistent with both the increase in estimates and slight expansion in group multiple since our initiation last month."

For more ratings news on American Water click here and for the rating history of American Water click here.

Shares of American Water closed at $29.50 yesterday.

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