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Fly News Breaks for February 26, 2018
WTR, AWK
Feb 26, 2018 | 06:16 EDT
Wells Fargo analyst Jonathan Reeder upgraded American Water (AWK) to Outperform and raised his price target for the shares to $88 from $83. The analyst says the company is now his top water utility pick. The stock's recent underperformance has shares trading at 3%-5% price-to-earnings discounts to Aqua America (WTR) and the water utility median, Reeder tells investors in a research note. The analyst this morning also downgraded Aqua America to Market Perform.
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