RBC Capital raised the firm’s price target on Mueller Water to $23 from $20 and keeps a Sector Perform rating on the shares. The company continued its string of strong operating results with better-than-expected Q3 topline growth and operating income coming in 45% above estimates, the analyst tells investors in a research note. Water Flow Solutions drove the upside as the company benefited from strong volume growth for iron gate valves against an easy destocking comp, the firm added.
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