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Fly News Breaks for February 26, 2019
AQUA, MWA
Feb 26, 2019 | 06:04 EDT
Goldman Sachs analyst Brian Lee downgraded Mueller Water (MWA) to Neutral and lowered his price target for the shares to $11 from $13. The analyst coupled the downgrade with an upgrade of Evoqua Water (AQUA) to Buy. The combination of Mueller's "sizable exposure to a less cyclically-attractive" residential housing end-market and "below-peer-average" incremental margin potential warrant a more balanced view of the shares, Lee tells investors in a research note. Further, he sees limited margin levers for the company in the near-term.
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