Consolidated Water upgraded to "strong buy"

06/29/06 - Brean Murray & Co

NEW YORK, June 29 (newratings.com) - Analyst Michael Gaugler of Brean Murray upgrades Consolidated Water Co Ltd (CWCO) from "accumulate" to "strong buy." The target price is set to $34.

In a research note published yesterday, the analyst mentions that the company’s share price has declined by almost 40% since its recent high. Consolidated Water Co’s operations have widened and volumes, mainly in Grand Cayman, have delivered robust growth over the same period, the analyst says. According to Brean Murray, the company’s new project pipeline appears healthy.