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Mueller Water Products (MWA) Gets a Buy Rating from Oppenheimer


In a report released yesterday, Bryan Blair from Oppenheimer maintained a Buy rating on Mueller Water Products (NYSE: MWA), with a price target of $14. The company’s shares closed yesterday at $11.39.

Blair observed:

“We hosted meetings with CEO Scott Hall and CFO Martie Zakas that reinforced the strong trends/outlook for MWA’s core Infrastructure business and highlighted the long-term prospects of accelerated Technologies investments. Accounting for MWA’s solid muni + resi demand backdrop (multi-year growth runway), enhanced focus on innovation and productivity (“culture of execution,” continuous improvement mindset), and increasing balance sheet strength/optionality, we remain confident in its potential for sustained MSD+ sales and DD EPS CAGR intermediate term. As such, we believe the divergence in MWA fundamentals and stock price (-9% YTD vs. XLI +4%) affords attractive upside for patient investors.”

According to TipRanks.com, Blair is a 2-star analyst with an average return of 2.9% and a 54.5% success rate. Blair covers the Industrial Goods sector, focusing on stocks such as Lincoln Electric Holdings, Watts Water Technologies, and Carlisle Companies Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Mueller Water Products with a $13.25 average price target.

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The company has a one-year high of $12.99 and a one-year low of $9.59. Currently, Mueller Water Products has an average volume of 740.9K.

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Mueller Water Products, Inc. engages in the manufacture and sale of products used in the transmission, distribution and measurement of water. It operates though the Infrastructure and Technologies segments.