Markets & Finance

Brean Murray Ups Consolidated Water to Accumulate

From Standard & Poor's Equity Research

Brean Murray upgraded Consolidated Water (CWCO) to accumulate from hold, noting more visibility into the company and increased confidence in its growth story.

Analyst Michael Gaugler had spent a week visiting investors with the company's Chairman Jeffrey Parker, and he came away with a higher level of visibility on new opportunities both within and outside the company's existing territories. His increased confidence that the growth story can continue beyond 2007 leads him to believe that a new, attractive opportunity to begin accumulating shares is now at hand. He establishes a $34 target price based on 35 times his 96 cents 2007 EPS estimate.

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