Middlesex Water Company's (MSEX) stock surged 6.12% in pre-market trading on Monday, following an analyst upgrade from Baird and the company's better-than-expected financial results for the fourth quarter.
Baird analyst Davis Sunderland upgraded Middlesex Water to Outperform from Neutral, citing the company's strong financial performance and strategic growth initiatives. The analyst maintained a price target of $61 on the stock.
Another analyst, Ben Kallo, also highlighted Middlesex Water's positive results and growth prospects, justifying a Buy rating on the stock. The company's solid financials and expansion plans are expected to drive further growth in the coming quarters.
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