Brean Murray Carret & Co. Upgrades Mueller Water Products (MWA) to Buy; Positive Housing End Market Data

Brean Murray Carret & Co. upgraded Mueller Water Products (NYSE: MWA) from Hold to Buy with a price target of $5.10.

Brean analyst said, "Recent positive housing end market data points in the United States and the recent contract win to supply American Water Works (NYSE: AWK)(Buy) with water meters and AMR systems has led us to reevaluate our investment thesis on the shares of Mueller Water Products. The aforementioned key points, coupled with the recent divestiture of the U.S. Pipe operations and subsequent strengthening of the balance sheet bode particularly well for the company’s short and long-term outlook." (Raising FY12,13,14 EPS estimates)

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 $3.51 yesterday.

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