BUZZ-BofA upgrades American Water Works to 'neutral'; shares rise
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BofA Global Research has upgraded American Water Works (AWK) to 'neutral' from 'underperform' and raised its price target to $139 from $117, reflecting an 8.6% premium over the stock's last close. Following the upgrade, AWK shares rose nearly 3% to about $131.6. The upgrade is linked to AWK's pending merger with Essential Utilities, which may alleviate concerns regarding water bill affordability and EPS growth sustainability. Currently, three out of 15 brokerages rate AWK as 'buy' or higher, with a median price target of $142.
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