Mueller Water price target raised to $29 from $28 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Mueller Water (MWA) to $29 from $28 and keeps a Neutral rating on the shares. The company posted record Q2 results with beats on top and bottom-line expectations, driven by pricing and manufacturing efficiencies that supported margin expansion, the analyst tells investors in a research note. Goldman Sachs adds that margin expansion is expected to continue through the year, with benefits from the February pricing action phasing in during the second half of the year.