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American States Water (NYSE:AWR) dropped a lot as 2% earlier than rebounding Wednesday, now +0.7%, after UBS initiated shares with a Promote score and $92 worth goal, saying the water utility is buying and selling at a premium and citing considerations referring to its price case settlement in California.
The California Public Utility Fee lately authorised the settlement on account of American States’ (AWR) current over-earning and bigger unregulated enterprise combine in comparison with friends.
UBS additionally began protection of SJW Group (NYSE:SJW) at Purchase with an $86 worth goal, citing its low-risk regulated enterprise combine and up to date price settlement approval from the CPUC, which helps 6%-7% EPS progress throughout 2022-26; shares +1.2% Wednesday.
The agency additionally launched California Water Service (NYSE:CWT) with a Impartial score and $67 PT, pointing to dangers from extra extreme drought and new environmental requirements being put in place; CWT +1.4% in Wednesday’s buying and selling.
American States Water (AWR) shares needs to be prevented, because the inventory will ship low-single-digit returns at finest, Jarco Vianen writes in an evaluation revealed on Searching for Alpha.
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