Roth Capital Starts Global Water Resources (GWGWF) at Buy

Roth Capital initiates coverage on Global Water Resources (OTC: GWGWF) with a Buy rating and a price target of $7.50.

Analyst Gerry Sweeney commented, "We initiate coverage of Global Water Resources with Buy rating and target of $7.50. We believe Global Water, a pure play water utility, is ideally situated in the Phoenix region. We estimate the region’s annual population growth is 3-5%; 2-3x above peers. Further, Global Water should benefit from regulatory rate increases of $4.2 mm. Population growth and increasing rates should allow Global Water to leverage existing infrastructure improving EBITDA margins from 37% in 2013 to an estimated 53% in 2016."

For an analyst ratings summary and ratings history on Global Water Resources click here. For more ratings news on Global Water Resources click here.

Shares of Global Water Resources closed at $5.80 yesterday.

You May Also Be Interested In

• BofA Securities Resumes American Eagle Outfitters (AEO) at Underperform
• Jefferies on Five Below (FIVE): 'Our latest channel checks reinforce our view that FIVE's momentum extends well beyond viral Squish trends'
• UBS Reiterates Buy Rating on NVIDIA (NVDA), Expects Q2 Revenue Beat