Mueller Water Products (MWA) PT Raised to $23 at TD Cowen

TD Cowen analyst Joseph Giordano raised the price target on Mueller Water Products (NYSE: MWA) to $23.00 (from $20.00) while maintaining a Hold rating.

The analyst commented: "Target revision largely to reflect sector multiples. EPS increase was essentially all from a reduction in amortization as customer intangibles came off - our EBITDA estimate for FY25 modestly lower vs. prior model on lower than expected initial growth guide. Savings from facility ramp base case now and expected to ramp starting in the March Q."

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