UBS analyst Gregg Orrill initiated coverage of SJW Group with a Buy rating and $85 price target as part of a broader research note on Water Utilities titled "Looking for Value". Water utilities have attractive characteristics for a defensive market environment and offer positive fundamentals which include 7% EPS growth potential, significant investment opportunities from pipe replacement and water access, the analyst tells investors in a research note. Orrill adds the stock trades at a 5% discount to the group on price to earnings basis despite greater regulatory clarity than its peers and an adequate water supply.
Published first on TheFly
