Essential Utilities recent weakness a buying opportunity, says Argus

Argus recommends using the recent weakness in shares of Essential Utilities (WTRG) as a buying opportunity. The company’s business is improving and it has reinstated its intermediate term guidance for earnings growth of 5%-7%, the analyst tells investors in a research note. The firm says that from a technical standpoint, the shares have been in a bullish pattern of higher highs and higher lows since October 2023. Argus keeps a Buy rating on the shares with a $45 price target