Baird analyst Davis Sunderland upgraded Middlesex Water (MSEX) to Outperform from Neutral with an unchanged price target of $61. The company reported a strong Q4 which beat estimates for all key metrics including regulated capex spending, the analyst tells investors in a research note. The firm says Middlesex’s long-term growth estimates for capital investment, which were previously omitted, were ahead of estimates. Baird expects investor sentiment to improve broadly and views current levels as an attractive entry point for the shares.
Don’t Miss TipRanks’ Half Year Sale
- Take advantage of TipRanks Premium for 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MSEX: