Janney Montgomery Scott Upgrades Middlesex Water (MSEX) to Buy
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Janney Montgomery Scott upgrades Middlesex Water (Nasdaq: MSEX) from Neutral to Buy and raised their price target from $20 to $21, following solid Q1 results fueled by the New Jersey rate increase, lower expenses and the benefit of lower interest rates on short term borrowing. The firm raised '08 and '09 EPS estimates to reflect the continuation of these operating conditions.
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