UBS analyst Gregg Orrill raised the firm’s price target on American Water to $139 from $124 and keeps a Neutral rating on the shares. The firm notes that On May 7th, American Water received a light ROE recommendation in the draft decision in its Pennsylvania rate case at 9.55% versus the 2023 9.6% national average in water cases and 10.0% currently allowed. UBS said in a research note on Friday that it expects some improvement in the final outcome due by July 11th for August implementation.
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