Goldman no longer bearish on Mueller Water Products, shares rise

|About: Mueller Water Products, Inc. (MWA)|By:, SA News Editor

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).