Goldman Sachs analysts Jerry Revich and Terry Darling reiterated their sector relative Sell rating for Mueller Water Products, Inc. MWA
Despite taking MWA off its Americas Conviction Sell List, Goldman Sachs still thinks MWA is underperforming relative to its industry peers.
According to the analysts, "Our 2011-12 estimates are 24% below consensus forecasts which assume sharply higher pricing despite low industry capacity utilization and muted recent price increase announcements. We expect earnings over the balance of the year to reveal a slower return to profitability, driving 2011-12 consensus forecasts lower."
Goldman's price target for MWA is $3.80. MWA is currently trading at $3.57.
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Posted In: Analyst ColorAnalyst RatingsGoldman SachsIndustrial MachineryIndustrialsJerry RevichTerry Darling
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