Macquarie still sees big upside for Mueller Water Products


Macquarie reiterates an Outperform rating on Mueller Water Products (MWA -0.1%).

"We expect accelerating TILE order growth into year-end given recent commentary ... about a snap-back in U.S. office demand post-U.S. government shutdown," analyst Mike Wood says.

"Positive non-residential growth seen in our proprietary distributor survey over the past few months, will serve as a positive catalyst," Wood adds.

Price target is $26 representing upside of ~179% from Wednesday's close

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Comments (1)
  • 063069
    , contributor
    Comments (18) | Send Message
     
    Nice price target. Good news that they see non residential adding momentum in addition to residential. The earnings profile without US Pipe drag puts MWA in position to far exceed profitability and share price relative to the last economic cycle as Mac is pointing out.
    30 Dec 2013, 10:33 AM Reply Like
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