BofA reinstated coverage of Essential Utilities with a Buy rating and $45 price target. The firm calls the stock a “compelling way to gain exposure to advantaged water utility attributes and strong secular growth tailwinds at a palatable valuation,” noting that it models FY24, FY25 and FY26 EPS estimates that are “slightly below consensus.”
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Read More on WTRG:
- Essential Utilities EVP Rhodes Resigns for Pattern Energy CFO Role
- Essential Utilities price target raised to $45 from $43 at Baird
- Essential Utilities reports Q2 EPS 28c, consensus 32c
- WTRG Earnings this Week: How Will it Perform?
- Essential Utilities boosts quarterly dividend by 6% to 32.55c per share
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