BofA Securities Starts American States Water (AWR) at Neutral

BofA Securities analyst Ross Fowler initiates coverage on American States Water (NYSE: AWR) with a Neutral rating and a price target of $85.00.

The analyst comments "We are initiating coverage on American States Water (AWR) with a Neutral rating and $85 price objective (3.7% potential price return). AWR is among the highest quality utility profiles in our coverage, with a strong balance sheet, proven execution track record delivering returns exceeding regulated average ROEs, and consistent growth. At a 12% premium to water peers and a 44% premium to electric/gas, we think quality is appropriately priced and generally prefer value in water as we see further multiple compression versus electric."

For an analyst ratings summary and ratings history on American States Water click here. For more ratings news on American States Water click here.

Shares of American States Water closed at $82.79 yesterday.

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