Essential Utilities price target lowered to $42 from $44 at UBS

UBS analyst Gregg Orrill lowered the firm’s price target on Essential Utilities to $42 from $44 and keeps a Buy rating on the shares. Essential Utilities reported Q4 operating EPS in line with consensus estimates, and its 2023 EPS was in line with guidance, despite a $43M revenue shoftfall vs. its plan due to unfavorable weather, the analyst tells investors in a research note.