Goldman no longer bearish on Mueller Water Products, shares rise

Shares of Mueller Water Products (MWA +3%) are getting a lift from an upgrade to Neutral from Sell at Goldman.

"We now see 5% upside to FY14 consensus EBITDA due to higher US non-res capex and lower input costs," analyst Jerry Revich says, adding that he has "stayed negative for too long as municipal water spending and margins have recovered."

Adjusted operating margin for the MRQ rose 430 bps Y/Y.

See also: Revich Q&A with management on FQ4 CC (transcript).

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Comments (2)
  • jsiebel720
    , contributor
    Comments (247) | Send Message
    As usual, the sell side gets it too late...Stock bottomed out @ $2.00 ish..NOTHING ever changes...Self-serving GS recommendation...
    11 Nov 2013, 05:58 PM Reply Like
  • DAG Investments
    , contributor
    Comments (4129) | Send Message
    Right ... they've been negative on $MWA since 2010 (150% ago ... or, with the right timing, 325% ago). Then had to go an open their mouths the day before my article got posted so it was already popped past my buy price.
    15 Nov 2013, 05:25 PM Reply Like
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