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UPDATE: Wedbush Initiates Coverage on Mueller Water Products on Ongoing Recovery

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In a report published Wednesday, Wedbush analyst David L. Rose initiated coverage on Mueller Water Products (NYSE: MWA) with an Outperform rating and $9.00 price target.

In the report, Wedbush noted, “In our view, Mueller Water is in the early to middle stages of an operating recovery, and should further benefit as investment in both municipal infrastructure and non-residential construction gradually rebound. We believe this recovery should translate into meaningful margin and earnings growth over the next three-five years. Over the last two years, MWA's operating results have begun to recover owing to 1) a stabilizing municipal market aided by an early housing recovery and increasing tax receipts 2) ongoing lean operating initiatives 3) growth in advanced metering products, and 4) improved pricing. We believe significant demand for water infrastructure spending supported by rate increases and an improving economy will provide an additional multi-year tailwind for Mueller.”

Mueller Water Products closed on Tuesday at $7.53.

Latest Ratings for MWA

DateFirmActionFromTo
Aug 2014Brean CapitalUpgradesHoldBuy
Jul 2014Northland SecuritiesInitiates Coverage onMarket Perform
Nov 2013Cowen & CompanyInitiates Coverage onMarket Perform

View More Analyst Ratings for MWA
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Posted-In: David L. Rose WedbushAnalyst Color Initiation Analyst Ratings

 

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