Wells Fargo Adjusts Price Targets On Water Utility Companies

Wells Fargo analyst Jonathan Reeder updated his price targets on some water utility companies.
Reeder raised the price target for SJW Group SJW to $77 (an upside of 11%) from $76 and maintained an Overweight rating on the shares.
He double upgraded SJW Group to Overweight from Underweight in early November and raised the price target to $76 from $70.
The analyst raised California Water Service Group's CWT price target to $63 (a downside of 3%) from $62 and maintained an Underweight rating on the shares.
Reeder lowered the price target for American States Water Co AWR to $97 (an upside of 0.65%) from $98 and maintained an Equal-Weight rating on the shares.
In early November, the analyst had downgraded American States Water to Equal Weight from Overweight with a $98 price target.
Also read, Wells Fargo Downgrades This Water Utility Company.
Price Action: SJW shares are trading higher by 2.69% at $69.17, CWT up by 3.25% at $65.06, and AWR higher by 2.33% at $96.37 on the last check Wednesday.