Hilliard Lyons Downgrades Artesian Resources (ARTNA) to Neutral

Hilliard Lyons downgraded Artesian Resources (NASDAQ: ARTNA) from Long-Term Buy to Neutral., removes $41 price target.

Analyst Spencer Joyce remains positive on the company fundamentals but he shifts his base case from 2017 general rate case to a 2018 filing and tells clients "we believes our move is justified".

FY 2017 EPS estimate falls from $1.55 to $1.49 and FY 2018 EPS estimate falls from $1.70 to $1.59.

For an analyst ratings summary and ratings history on Artesian Resources click here. For more ratings news on Artesian Resources click here.

Shares of Artesian Resources closed at $38.10 yesterday.

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