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SJW

SJW Corp.

$57.27

-0.02 (-0.03%)

, CTWS

Connecticut Water

$65.20

-0.02 (-0.03%)

11:09
01/09/19
01/09
11:09
01/09/19
11:09

SJW, Connecticut Water evaluate regulatory approach for proposed merger

SJW Group (SJW) and Connecticut Water Service (CTWS) announced that they are continuing to evaluate their regulatory approach - including the possibility of submitting a new application to the Connecticut Public Utilities Regulatory Authority - in connection with their proposed merger. Pending this review, they have withdrawn their current application before PURA. The SJW Group and Connecticut Water merger agreement remains in effect and the companies remain committed to the merger and to realizing its many stakeholder benefits. The companies are confident that their combination is in the public interest and that they have the technical, financial and managerial suitability to create important benefits, including rate reductions, and unique service and job protections, for Connecticut customers and communities and the employees who serve them. As the companies evaluate their next steps with the support of regulatory counsel, they will be reviewing past utility transactions in Connecticut that were able to overcome PURA concerns and obtain the necessary regulatory approval. The companies are committed to a timely review of their options, taking all appropriate steps to serve the best interest of their respective stakeholders and shareholders.

SJW

SJW Corp.

$57.27

-0.02 (-0.03%)

CTWS

Connecticut Water

$65.20

-0.02 (-0.03%)

SJW SJW Corp.
$57.27

-0.02 (-0.03%)

12/05/18
EVER
12/05/18
UPGRADE
EVER
Outperform
SJW Corp. upgraded to Outperform from In Line at Evercore ISI
Evercore ISI analyst Durgesh Chopra upgraded SJW Corp. to Outperform with a $59 price target.
09/17/18
EVER
09/17/18
INITIATION
Target $59
EVER
In Line
SJW Corp. initiated with an In Line at Evercore ISI
Evercore ISI analyst Greg Gordon initiated SJW Corp. (SJW) with an In Line and $59 price target citing the pending merger with Connecticut Water (CTWS).
09/10/18
09/10/18
UPGRADE
Target $63

Buy
SJW Corp. upgraded to Buy at Janney Montgomery Scott
As previously reported, Janney Montgomery Scott analyst Michael Gaugler upgraded SJW Corp. (SJW) to Buy from Neutral, citing valuation with the shares having fallen 16% since the withdrawal of California Water Service's (CWT) bid. While acknowledging that a future equity offering could pressure shares if SJW wins its bid for Connecticut Water (CTWS), Gaugler said he thinks the current valuation already anticipates and reflects an expectation for that eventuality. He sees SJW shares as attractively valued at their current levels, whether or not the company can consummate the Connecticut Water deal. The analyst keeps a $63 fair value estimate on SJW shares.
09/10/18
JANY
09/10/18
UPGRADE
JANY
Buy
SJW Corp. upgraded to Buy from Neutral at Janney Montgomery Scott
CTWS Connecticut Water
$65.20

-0.02 (-0.03%)

09/17/18
EVER
09/17/18
INITIATION
Target $67
EVER
In Line
Connecticut Water initiated with an In Line at Evercore ISI
Evercore ISI analyst Greg Gordon initiated Connecticut Water with an In Line and $67 price target.
08/29/18
08/29/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Irsa Propiedades (IRCP) downgraded to Neutral from Overweight at JPMorgan with analyst Marcelo Motta citing the company's weaker outlook. 2. Fang Holdings (SFUN) downgraded to Neutral from Outperform at Credit Suisse. 3. Connecticut Water (CTWS) downgraded to Sell from Neutral at UBS with analyst Daniel Ford saying he sees the stock's risk/reward as skewed to the downside. 4. Bank of Nova Scotia (BNS) downgraded to Hold from Buy at Canaccord. 5. Capital Product (CPLP) and Realty Income (O) were downgraded to Neutral from Buy at Janney Montgomery Scott. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

PSO

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DBX

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PLNT

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PSO

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CONE

CyrusOne

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NDLS

Noodles & Company

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COT

Cott Corp.

$15.58

0.02 (0.13%)

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UTX

United Technologies

$126.33

-2.07 (-1.61%)

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TVPT

Travelport

$15.70

-0.01 (-0.06%)

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Earnings
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ITT

ITT

$56.41

-0.25 (-0.44%)

06:51
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ITT to acquire Rheinhutte Pumpen Group for approximately $91.5M in cash »

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ROKU

Roku

$51.47

-2.16 (-4.03%)

06:50
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Downgrade
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ITT

ITT

$56.41

-0.25 (-0.44%)

06:50
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Hot Stocks
ITT announces new $25M share repurchase program »

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  • 22

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FIT

Fitbit

$6.62

-0.03 (-0.45%)

06:50
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Downgrade
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  • 25

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FSLR

First Solar

$51.91

0.23 (0.45%)

06:49
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ITT

ITT

$56.41

-0.25 (-0.44%)

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ITT raises quarterly dividend 10% to 14.7c per share »

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NVRO

Nevro

$47.27

-1.12 (-2.31%)

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ITT

ITT

$56.41

-0.25 (-0.44%)

06:48
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Earnings
ITT sees FY19 adjusted EPS $3.42-$3.66, consensus $3.57 »

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ITT

ITT

$56.41

-0.25 (-0.44%)

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Earnings
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  • 22

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ITT

ITT

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-0.25 (-0.44%)

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CWST

Casella Waste

$33.55

-1.47 (-4.20%)

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  • 22

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CODX

Co-Diagnostics

$1.17

-0.015 (-1.27%)

06:45
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Hot Stocks
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  • 28

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06:45
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General news
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SALT

Scorpio Bulkers

$4.00

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06:44
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MNTA

Momenta

$13.91

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06:42
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  • 22

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TNK

Teekay Tankers

$1.06

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06:42
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