Are U.S. water stocks no longer attractive? Multiple stocks have had their target prices lowered by Wells Fargo
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Wells Fargo recently lowered the target prices for several U.S. water stocks, reflecting changes in market dynamics and the macro environment. The target price for California Water Service Group was reduced from $56 to $52, the target price for American Water was lowered from $133 to $129, and the target price for American States Water was decreased from $84 to $77. The overall water industry is facing challenges, with a median return rate of -12% for 2024, leading to decreased investor interest in the sector
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