American Water Works upgraded to Neutral at JPMorgan Chase
American Water Works $American Water(AWK)$ on Friday was upgraded to a Neutral rating from Underweight at JPMorgan Chase on its valuation and regulatory outlook. The bank raised its price target for the utility company to $165 a share from $162.
“Near-term regulatory concerns are easing, in our view, given recent rate case execution and amid a backdrop of elevated commodity prices flowing through electric and gas bills that leaves water in a differentiated customer rate position over the next twelve months,” JPMorgan said in a research note.
American Water Works this year has declined 16% to $154.90, compared with a 15% slide for the S&P 500 Stock Index (SP500) through the market close on Sept. 9.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Ok
ok