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Fly News Breaks for January 21, 2020
WTR
Jan 21, 2020 | 06:23 EDT
BofA analyst Julien Dumoulin-Smith downgraded Aqua America to Neutral from Buy with a $52 price target. The rating change follows last week's decision by Pennsylvania Public Utility Commission paving the way toward its $4.3B Peoples Gas transaction, the analyst states. Having risen 23% since he started coverage, Dumoulin-Smith contends that the set-up on the stock is "more balanced" heading into next month's analyst day, when the management will lay out its long-term guidance.
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