American States Water price target raised to $80 from $77 at Wells Fargo

Wells Fargo raised the firm’s price target on American States Water to $80 from $77 and keeps an Underweight rating on the shares. The firm says the company’s Q1 update largely met expectations, and outsized positive share price reaction was “somewhat puzzling.” Wells nudges up its 2024-2028 EPS outlook 1c-2c/year due to housekeeping items. GRC outcomes are next area of focus but nothing is imminent, the firm adds.