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UPDATE: Macquarie Downgrades Aqua America on Excessive Valuation

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Aqua America Upgraded On M&A Prospects
Benzinga's Top Upgrades, Downgrades For October 19, 2017

In a report published Tuesday, Macquarie analyst Angie Storozynski downgraded Aqua America (NYSE: WTR) from Neutral to Underperform, but reiterated the $29.00 price target.

In the report, Macquarie noted, “WTR's retail ownership and strong regulatory relationships are not enough for us to justify its 5x '15 PE premium over US water peers, especially when we account for its below-average EPS growth and limited financial disclosures. Hence our downgrade of WTR to Underperform (from Neutral).”

Aqua America closed on Monday at $33.61.

Latest Ratings for WTR

DateFirmActionFromTo
Oct 2017Wells FargoUpgradesMarket PerformOutperform
Sep 2017BarclaysMaintainsOverweight
Mar 2017BarclaysUpgradesEqual-WeightOverweight

View More Analyst Ratings for WTR
View the Latest Analyst Ratings

Posted-In: Angie Storozynski MacquarieAnalyst Color Downgrades Analyst Ratings

 

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