BTIG upgraded H2O America to Buy from Neutral with a $61 price target, citing increased conviction in the long-term earnings growth picture based on the company's proposed acquisition of Quadvest, as well as its greater regulatory certainty. While the firm continue to monitor the risks largely associated with its substantial equity offering to finance Quadvest, it believes H2O's story is "one under the radar trading at a substantial P/E discount to its water utility peers," the analyst tells investors.
