Oppenheimer Comments on Mueller Water Products (MWA)

Oppenheimer commented on Mueller Water Products MWA in a report released earlier. In the report, Oppenheimer was expectant that the company would meet expectations. Oppenheimer writes, “In our view, shares remain catalyst prone, depending on outcome of strategic decisions for US Pipe, MWA potential to more consistently deliver mid-teens+ OM, Middle East profitability at USP, potential for more consistent industry pricing in the pipe space, and the timing and degree of impact on consent-decree related activities around US water main infrastructure. As such, we believe shares have solid support around current levels, but based on underlying end-market dynamics and incessant structural impact on MWA from the state of US residential-based fixed investment, we remain at Perform rating.” Oppenheimer has a Perform rating on the stock. Mueller Water Products closed the trading day on Friday at $4.23, down from the open at $4.27.