2023-07-06 12:24:12 ET
Consolidated Water ( NASDAQ: CWCO ) -11.9% in Thursday's trading after Janney downgraded the stock to Neutral from Buy, saying the price had reached the firm's $24 target.
Consolidated Water ( CWCO ) has enjoyed a fine year with large contract wins, which have provided the company with several years worth of visibility into higher revenues, Janney analyst Michael Gaugler said.
Gaugler had upgraded the stock a month ago after saying the company's $204M contract for a Hawaii desalination project would provide a springboard for other U.S.-based opportunities.
More on Consolidated Water:
- Financial and valuation comparison to sector peers
- Analysis: Consolidated Water Is Capturing Market Share In Infrastructure Spending
- Stock price return: Up 67.5% YTD, up 62.5% in the past 12 months
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Consolidated Water cut at Janney as fair value achieved