Mueller Water price target raised to $30 from $27 at Oppenheimer

Oppenheimer analyst Bryan Blair raised the firm’s price target on Mueller Water (MWA) to $30 from $27 and keeps an Outperform rating on the shares. The firm notes Mueller reported Q1 EBITDA of $64M, solidly above its/consensus $55M/$56M estimates. The beat reflected outperformance from both segments and clear operating momentum into FY25. Given solid Q1 results, generally solid end-market demand, and anticipated benefits from recent price actions, management raised its FY25 sales and adjusted EBITDA outlook. In Oppenheimer’s view, the revised guide remains conservative and affords solid organic plus inorganic upside vs. forward estimates.