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Fly News Breaks for November 15, 2019
AWK
Nov 15, 2019 | 08:20 EDT
JPMorgan analyst Christopher Turnure initiated coverage of American Water with a Neutral rating and $127 price target. The company's guided 7%-10% earnings growth would not be possible without employment of "rapidly increasing holdco debt or the backstop of equally low cost equity," Turnure tells investors in a research note. However, he believes excess total shareholder return can offset any mild premium erosion "for the time being."
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