UPDATE: Brean Murray Carret & Co. Raises American Water Works' PT
According to a research report published this morning, Brean Murray Carret & Co. has increased American Water Works' (NYSE: AWK) PT from $39 to $40.
Brean Murray Carret & Co. commented, "AWK's 1Q12 results highlight the strong fundamentals driving the underlying business model. Improvements in the operating cost structure, coupled with continued rate case awards, allowed AWK to show significant YOY improvement in a seasonally weak quarter from a revenue and earnings perspective. Based on the continuing improvements in the cost structure, anticipated future rate relief and favorable weather conditions present in the Mid‐Atlantic region, our positive investment thesis remains intact."
Brean Murray Carret & Co. maintains its Buy rating on American Water Works, which closed yesterday at $34.31.
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