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UPDATE: Hilliard Lyons Upgrades Aqua America to Long-Term Buy on Strong Q3 Results

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Hilliard Lyons raised its rating on Aqua America (NYSE: WTR) from Neutral to Long-term Buy with a $29 price target.

Hilliard Lyons noted, "We  believe  momentum  due  to  the 2012  drought  and  natural  gas  water  supply initiative  has  subsided,  thus  bettering  the risk/reward proposition of shares as we continue to  be  impressed  by  results.    At  our  price  target, shares  would  trade  in  line  with  5‐year P/E multiples based on our 2013 estimates, which we  believe  is  appropriate  given  our  positive fundamental outlook." 

Aqua America closed at $25.28 on Friday.

Posted-In: Hilliard LyonsAnalyst Color Upgrades Intraday Update Analyst Ratings

 

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