Essential Utilities price target lowered to $42 from $51 at Evercore ISI

Evercore ISI lowered the firm’s price target on Essential Utilities to $42 from $51 and keeps an Outperform rating on the shares. The company’s Q4 results were “modestly disappointing,” with Q4 EPS in line with the Street but the 2024 EPS guidance mid-point slightly below consensus, the analyst tells investors. Following the recent report, the firm is introducing a 2026 EPS projection of $2.20 and lowering its price target, though it notes that it continues to see an “attractive risk/reward.”