UPDATE: Citi Raising Price Target On American Water Works Company (AWK)

Citi Investment Research is raising its price target on shares of American Water Works Company, Inc. AWK to $32 from $23.50, and it has a Buy rating on shares. In a note to investors, Citi writes, "In short, we see attractive expected total returns for AWK shares as Management continues to improve the Company's earned rate of return at their regulated water utilities. Given an attractive growth profile and a ~90% regulated business mix, we view AWK shares as an attractive defensively positioned addition to any well-balanced investment portfolio." Shares of AWK gained 8 cents on Friday to close at $29.28, a gain of 0.27%.