Mueller Water Products (MWA) PT Raised to $24 at Baird

Baird analyst Michael Halloran raised the price target on Mueller Water Products (NYSE: MWA) to $24.00 (from $18.00) while maintaining a Neutral rating.

The analyst commented: "An all around strong quarter for MWA as above-expected volumes (strong WFS, weak WMS) and robust margins drove a robust beat vs. consensus. Most encouragingly, profitability gains appear structural, benefiting from improved manufacturing performance and pricing with clear line of sight to incremental levers in F2025 (removal of duplicative foundry costs, improved manufacturing performance, improved volumes). Execution/performance sustainability is key, and we look to turn constructive as end market and operational risks subside. We are warming to the name but remain on the sidelines for now."

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