Wells Fargo Upgrades American Water (AWK) to Outperform
Wells Fargo upgraded American Water (NYSE: AWK) from Market Perform to Outperform with a price target of $45-$46 (from $41-$42).
Analyst Neil Kalton said, "We are increasingly confident in AWK's ability to deliver long-term EPS growth of at least the lower-end of mgmt's targeted 7-10% EPS range. While cognizant of AWK's comparatively low dividend yield relative to electrics, we believe the above avg EPS growth more than offset the yield disparity and should lead to attractive total return in excess of 10%."
For an analyst ratings summary and ratings history on American Water click here. For more ratings news on American Water click here.
Shares of American Water closed at $41.73 yesterday, with a 52 week range of $32.75-$42.53.
Analyst Neil Kalton said, "We are increasingly confident in AWK's ability to deliver long-term EPS growth of at least the lower-end of mgmt's targeted 7-10% EPS range. While cognizant of AWK's comparatively low dividend yield relative to electrics, we believe the above avg EPS growth more than offset the yield disparity and should lead to attractive total return in excess of 10%."
For an analyst ratings summary and ratings history on American Water click here. For more ratings news on American Water click here.
Shares of American Water closed at $41.73 yesterday, with a 52 week range of $32.75-$42.53.