Mueller Water price target raised to $19 from $15 at Baird

Baird raised the firm’s price target on Mueller Water to $19 from $15 and keeps a Neutral rating on the shares. The firm said they exceeded muted F1Q expectations, on both the top/bottom line. 2024 guidance is above current expectations and reflects an improving backdrop, but importantly puts the company back on the earnings trajectory prior to the 2H23 challenges.