RBC Capital Downgrades Mueller Water Products (MWA) to Sector Perform

RBC Capital analyst Deane Dray downgraded Mueller Water Products (NYSE: MWA) from Outperform to Sector Perform with a price target of $12.00 (from $13.00).

The analyst comments "We are downgrading Mueller Water from Outperform to Sector Perform as we believe the company’s migration up the water technology curve could be slower than we previously expected. Although MWA shares screen attractively on a historical relative P/E to peers, the loss-making Technologies segment still has an element of “show-me” and the much needed plant expansion will mute FCF conversion in 2020. Risk-reward looks balanced over the near term."

For an analyst ratings summary and ratings history on Mueller Water Products click here. For more ratings news on Mueller Water Products click here.

Shares of Mueller Water Products closed at $12.03 yesterday.

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