Seaport Research upgraded California Water Service (CWT) to Buy from Neutral with a $54 price target The firm, which remains “excited about the AI-related load growth for vertically integrated electric utilities and IPPs,” has kept its positive stance on water utilities “even before the recent tariff whiplash,” citing the low-risk predictable EPS growth for water stocks. For California Water, the firm highlights 13% rate base growth and a discounted valuation.
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