UPDATE: Macquarie Downgrades Aqua America on Excessive Valuation
July 16, 2013 at 09:44 AM EDT
In a report published Tuesday, Macquarie analyst Angie Storozynski downgraded Aqua America (NYSE: WTR ) from Neutral to Underperform, but reiterated the $29.00 price target. In the report, Macquarie noted, “WTR's retail ownership and strong regulatory relationships are not enough for us to justify its 5x '15 PE premium over US
