tiprankstipranks

American States Water downgraded to Underperform from Neutral at BofA

BofA analyst Ross Fowler downgraded American States Water (AWR) to Underperform from Neutral with a price target of $71, down from $85, citing the stock’s relative premium to the water group and the firm’s view that high premium utilities continue see compression versus value. However, the firm adds that it sees no fundamental degradation in earnings quality or growth and continues to view American States as “one of the best managed water utilities in our coverage.”

Confident Investing Starts Here:

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Disclaimer & Disclosure

Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.

Report an Issue