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Wells Fargo analyst Jonathan Reeder downgraded American Water Works Co Inc (NYSE:AWK) to Underweight from Equal Weight and lowered the price target to $170 (an upside of 0.89%) from $171. The analyst cites the group’s overall valuation and belief that water’s relative P/E premium to electrics and gas LDCs is unsustainable longer-term.
...read full article on Benzinga
