Wells Fargo analyst Jonathan Reeder raised his price target for American Water to $104 from $97 following the company's analyst day. Reeder notes that management utilized the analyst day to highlight the company's low risk, regulated-centric water and wastewater strategy. Specifically, American Water established 2019 EPS guidance of $3.54-$3.64 and continues to guide toward the top half of the 7%-10% EPS CAGR range through 2023, he notes. The analyst continues to be attracted to the above average growth story and has a high level of confidence in management's ability to deliver on its goals. He reiterates an Outperform rating on the shares.