California Water Service Group (CWT) PT Raised to $61 at Baird

Baird analyst Ben Kallo raised the price target on California Water Service Group (NYSE: CWT) to $61.00 (from $55.00) while maintaining a Outperform rating.

The analyst commented: "The recently filed 2024 California General Rate Case (GRC) includes a request for capital investments ahead of our estimates. While it is still early in the process for rate/investment approval from the CPUC, the filing gives us increased confidence in CWT's ability to deploy new capital. Note that our updated capex estimates do not include the estimated $226M of PFAS-related capital investments."

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