UPDATE: Ladenburg Thalmann Raises PT on American Water Works to $32

Ladenburg Thalmann is out with its report today on American Water Works

, raising its PT from $31 to $32. In its report, Ladenburg Thalmann writes, "We maintain our Neutral rating and increase our 12M price target to $32 from $31, representing a total 1-year return of 9%. Our target is based on shares trading at 16.5x our 2012 EPS estimate of $1.94, a 10% discount to peers (which includes all publicly listed U.S. regulated water utilities)." At the time of posting, shares of AWK were trading at $30.41, up 1.03% from Wednesday's close.