Global Water Resources upgraded to Buy from Hold at Freedom Capital

Freedom Capital upgraded Global Water Resources (GWRS) to Buy from Hold with a price target of $11.50, up from $10.50, after Global Water completed a $13.1M private placement. Participation by both executive management and board members demonstrates “strong conviction” in the company’s rate-base expansion and earnings visibility, says the analyst, who views the transaction as “a positive signal for the company’s risk profile and valuation outlook.”