Deutsche Bank Starts Aquaventure (WAAS) at Buy
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Deutsche Bank initiated coverage on Aquaventure (NYSE: WAAS) with a Buy rating and a price target of $27.
Analyst Vishal Shah said, "Aquaventure’s water as a service business model allows customers to outsource a non-core activity to water experts. We expect the company to achieve above average industry revenue and EBITDA growth due to relatively strong underlying growth prospects of the medium scale desalination as well as point-of-use water markets, strong management capability, especially in acquisitions and operating desal plants. The company has solid revenue visibility with long term contracted backlog in both business units and should trade at a premium valuation multiple relative to other low growth water stocks, in our view."
Shares of Aquaventure closed at $22.00 yesterday.
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