Mueller Water price target lowered to $26 from $29 at Goldman Sachs

Goldman Sachs analyst Brian Lee lowered the firm’s price target on Mueller Water (MWA) to $26 from $29 and keeps a Neutral rating on the shares after its Q3 results. The company reported a Q4 beat across sales and EPS as price/cost realization and higher volumes were tailwinds within the quarter, the analyst tells investors in a research note. The firm adds however that while margin expansion is expected to continue to improve, increased costs related to tariffs coupled with weaker end market demand and volumes have resulted in lower than anticipated adjusted EBITDA growth.